Russian President Dmitry Medvedev at the 2008 G8 summit
Photo: Dmitry Azarov
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Emergency G8 Summit on Financial Crisis
The Group of Eight countries have announced an emergency summit to discuss the world financial crisis, according to a joint statement distributed by the Russian government press service. The meeting will be held “at a fitting time in the near future,” the statement reads. Other countries beside the G8 members are expected to take part as well, the Associated Press reports.
Russian Foreign Minister Sergey Lavrov proposed an emergency G8 summit on October 11. “We have agreed on the need to hold a forum at the highest level that will not fit within the framework of the classical Group of Eight,” the foreign minister stated during his working trip to Germany. He added that China, Brazil, India, South Africa and Mexico should also take part in the summit. France proposed such a meeting on October 7. Japan, the current leader of the group, is planning to discuss the meeting with France in the immediate future.
French President Nicolas Sarkozy expressed his support for expanding the membership of the G8 last month while speaking before the 63rd General Assembly of the United Nations. He was in favor of admitting India, South Africa, Brazil, China and Mexico. At the same time, he suggested that a summit of world leaders be held before the end of the year. Sarkozy also spoke of creating “regulated capitalism” whose rules would extend to market participants and ensure transparency of financial operations.
The G8 consists of the United States, Canada, Great Britain, Italy, France, Germany, Japan and Russia.
www.kommersant.com
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