G8

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G8

The 8 wealthiest, most influential and most industrially advanced democratic nations: Canada, France, Germany, Italy, Japan, Russia, UK, US.
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Oil prices fell after Hurricane Isaac landed in the US and the Group of Seven industrialised nations expressed concern that elevated prices may threaten the global economic recovery.
Equity markets tumbled on Monday, with European shares sinking to a 26-month low, partly in reaction to the failure over the weekend of the Group of Seven industrialised nations finance ministers to come up with more than a stated commitment to help turn the world economy around.
The International Monetary Fund (IMF) has backed a plan announced by the Group of Seven industrialised nations (G7) to tackle the global financial turmoil.
Britain's economy is currently growing at a faster rate than any other country in the Group of Seven industrialised nations and the number of people claiming unemployment benefit has been falling steadily.
All eyes are on today's G7 meeting in Washington."Finance ministers and central bankers from the Group of Seven industrialised nations are due to meet in Washington but many market commentators are sceptical that they can do anything to soothe concerns about the world economy.
'The decision to open the port is part of the relaunch of Naples, which started with the Group of Seven industrialised nations meeting in 1994,' said Mr Francesco Lauro, chairman of the city's port authority.

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