Question

What were the experience did the 7 members did ?

Answer 1

The concept of a forum for the world's major industrialized countries emerged before the 1973 oil crisis. On Sunday, 25 March 1973, the U.S. Secretary of the Treasury, George Shultz, convened an informal gathering of finance ministers from West Germany Helmut Schmidt, France Valéry Giscard d'Estaing, and the United Kingdom Anthony Barber before an upcoming meeting in Washington, D.C. When running the idea past President Nixon, he noted that he would be out of town and offered use of the White House. The meeting was subsequently held in the library on the ground floor. Taking their name from the setting, this original group of four became known as the "Library Group". In mid-1973, at the World Bank-IMF meetings, Shultz proposed the addition of Japan to the original four nations, who agreed. The informal gathering of senior financial officials from the United States, the United Kingdom, West Germany, Japan, and France became known as the "Group of Five".

Then, in 1974, President Pompidou of France died and his immediate successor refused to run in the special election, making three heads of state in one year. Chancellor Brandt of West Germany was forced to resign in a scandal, and his successor lasted only nine days, making three heads of government in one year. Then President Nixon of the United States and Prime Minister Tanaka of Japan were forced to resign in disgrace. Queen Elizabeth II was forced to broker a deal to form a government after a hung election, which was so unstable that another election the same year had to take place, and finally, the traditionally unstable government of 1st Italian Republic changed Prime Ministers yet again. American President Gerald Ford, who had been a mere Congressman a year before, asked some other new heads of state/government to hold a retreat the following year to get to know one another.

So, in 1975, a summit hosted by France brought together representatives of six governments: France, West Germany, Italy, Japan, the United Kingdom, and the United States. Schmidt and Giscard d'Estaing were heads of government in their respective countries, and since they both spoke fluent English, it occurred to them that they, and British Prime Minister Harold Wilson and U.S. President Gerald Ford could get together in an informal retreat and discuss election results and the issues of the day. In late spring, d'Estaing of France invited the heads of government from West Germany, Italy, Japan, the United Kingdom, and the United States to a summit in Château de Rambouillet; the annual meeting of the six leaders was organized under a rotating presidency, forming the Group of Six (G6). In 1976, with Wilson out as prime minister of Britain, Schmidt and Gerald Ford felt an English speaker with more experience was needed, so Canada's Pierre Trudeauwas invited to join the group and the group became the Group of Seven (G7). Since first invited by the United Kingdom in 1977 the European Union has been represented by the president of the European Commission, and the leader of the country that holds the presidency of the Council of the European Union and the Council President now also regularly attends.

Until the 1985 Plaza Accord no one outside a tight official circle knew when the seven finance ministers met and what they agreed. The summit was announced the day before and a communiqué was issued afterwards.

Following 1994's G7 summit in Naples, Russian officials held separate meetings with leaders of the G7 after the group's summits. This informal arrangement was dubbed the Political 8 (P8) – or, colloquially, the G7+1. At the invitation of Prime Minister of the United Kingdom Tony Blair and President of the United States Bill Clinton, Russian President Boris Yeltsin was invited first as a guest observer, later as a full participant. After the 1997 meeting Russia was formally invited to the next meeting and formally joined the group in 1998, resulting in a new governmental political forum, the Group of Eight or G8. The Russian Federation, in fact, had and has limited net national wealth and financial weight compared to the other members of the G8. Russia also has never been a major advanced economy according to the IMF. However, the Russian Federation was ejected from the G8 political forum in March 2014 following the Russian annexation of Crimea.

Answer 2

The concept of a forum for the world,s major industrialized countries emerged before the 1973 oil crisis.