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The Group of Eight and the European Union: The Evolving Partnership


Date Location Declared Objectives and Actions
15-17 November 1975 Rambouillet -Overcome high unemployment, inflation, and energy problems
-Monetary understanding to intervene in markets in case of sudden fluctuations in exchange rates
27-28 June 1976 Puerto Rico -With the participation of Canada, the G6 becomes the G7
-Achieve steady expansion, reduce unemployment, complete Tokyo Round of GATT by end of 1977
-Agree to avoid excessive stimulation of individual economies
7-8 May 1977 London -The Commission of the European Community gains representative status
-Create jobs, reduce inflation, make progress towards completion of Tokyo Round, seek cooperation with international institutions (IMF, World Bank, GATT, and OECD)
-Commit to specific growth targets
16-17 July 1978 Bonn -Create more jobs, fight inflation, set limits for imported oil in the EC and US, establish time-table for the completion of the Tokyo Round by December 1978
-Agree to take economic action as required (i.e., US to reduce inflation, Japan to increase domestic demand), joint resolution condemning international terrorism
28-29 June 1979 Tokyo -Note urgency to reduce oil consumption and speed development of alternative sources of energy, intensify individual economic policies to reach balance among participants
-Set quantified import levels for oil up to 1985
22-23 June 1980 Venice -Top priority of reducing inflation, encourage investment and innovation
-Establish measures to reduce oil consumption, first political declaration condemning Soviet invasion of Afghanistan and international hostage-taking, endorse conclusion of Tokyo Round
20-21 July 1981 Ottawa
-Need for economic stimulus, reduction of inflation and unemployment are highest priorities, minimize fluctuation in exchange rates, encourage steps to preserve the environment
-No major policy actions were announced, opinion concerning East-West trade relations (i.e., Soviet pipeline issue) was divided
4-6 June 1982 Versailles -Increase in economic growth, reduce unemployment, have diversified but cautious approach to E-W trade, move towards a more orderly international monetary system in which IMF should play a major role
-Monetary accord agreed upon
28-30 May 1983 Williamsburg, U.S.A. -Maintain low inflation, reduce unemployment, interest rates, and budget deficits
-Statement on defense and arms reduction, call for arms reduction talks with the USSR
7-9 June 1984 London -Control monetary growth, reduce interest rates and inflation, pursue increased cooperation with the USSR
-Intensify discussion of developing countries' debt problems
2-4 May 1985 Bonn -Resist protectionism, improve stability of international monetary system, reduce inflation
-Support opening of new GATT round, economic action plans of each member stated, continued dialogue with developing countries, political declaration on 40th anniversary of end of WWII reaffirms commitment for coordination among participants
4-6 May 1986 Tokyo -Long-term approach to economic growth is encouraged, need for continued improvement in growth and fighting of inflation, control public spending
-Formation of G7 Finance Ministers group to meet between G7 summits, increased cooperation with the IMF in order to strengthen multilateral surveillance
8-10 June 1987 Venice -Fight unemployment, public sector deficits and high interest rates, reform structural policy to promote job creation, resist protectionism
-Endorse G7 Finance Ministers' plan for increasing multilateral monetary surveillance
19-21 June 1988 Toronto -Sustain non-inflationary growth, strengthen efforts for coordinated policies, continue to resist protectionism, increase cooperation in environmental conservation
-Encourage progress for mid-term review of the Uruguay Round
14-16 July 1989 Paris -Maintain balanced growth, fight inflation and unemployment, encourage integration of developing countries into international economy, urgent need to increase environmental safeguards
-Commit to completion of the Uruguay Round by the end of 1990, support a number of environmental protection activities, political declaration in support of reform in Poland and Hungary and request Commission of the EC to coordinate the newly established G24 assistance program to these countries
9-11 July 1990 Houston -Balanced growth, reduce deficits, encourage investment, state need to lower agricultural subsidies, requirement of common indicators to examine economic growth, commend Commission of the EC for coordination of G24 assistance to Central and Eastern Europe
-Give 1990 conclusion of the Uruguay Round highest priority, recognize need for improved access for export from Central and Eastern Europe, in "Securing Democracy" declaration, requested detailed study of the Soviet economy
15-17 July 1991 London -Promote true multilateral system in which responsibility is shared, need for sustained recovery, price stability, reduce interest rates, encourage private saving
-Commit to balanced trade package and completion of the Uruguay Round by the end of 1991 even if personal involvement is necessary, invitation to Soviet President Gorbachev to summit to discuss Soviet reforms and their implementation, commend the Commission of the EC for role in G24 coordinated assistance to Central and Eastern Europe
6-8 July 1992 Munich -Agree to closely monitor economic and monetary conditions, work towards stable growth and increased stability in exchange markets, reduce interest rates and excessive public deficits, limit public spending while encouraging private saving, promote environmentally-friendly products, encourage competition
-Work toward completion of the Uruguay Round by end of 1992, presented political declarations on countries of Central and Eastern Europe and the former Yugoslavia
7-9 July 1993 Tokyo -Encouragement of global growth and job creation particularly through structural reform, endorsement of substantial market access agreement and call to complete the Uruguay Round by the end of 1993, significant aid package to Russia
-Strengthening of UN peace-keeping and peace-building capabilities, opposition to terrorism, and commitment to make the world more safe and humane
-Call for more informal, less ceremonial structure of G-7 summits
8-9 July 1994 Naples -Pledge to focus on structural reform including increased education and training and encouragement of technological innovation
-Full participation of Russia in the political discussions, urge compliance of cease-fire in the UN protected zones in Croatia
15-17 June 1995 Halifax -Reduction of unemployment considered an urgent priority, encouragement of G7 Global Information Society goals
-Call for reform of international institutions in order to increase their efficiency and effectiveness
27-29 June 1996 Lyon -Call for partnership between developing countries and international institutions. Heads of IMF, World Bank, WTO and the UN join in discussions
-Declaration on terrorism pledges increase in cooperation and condemns recent terrorist activities
-Provide details for reform of international institutions
20-22 June 1997 Denver -Russia joins the Western Economic Summit making this the Denver Summit of the Eight
-Discussion of aging population and promotion of small and medium-sized enterprises
-Support of sustainable development and need for efficient international institutions to manage environmental issues
-Reaffirm need for UN reform
-Establishment of African development strategy
-Stress commitment to democracy, human rights and arms control
15-17 May 1998 Birmingham -Special statements on crises in India (condemnation of nuclear testing) and Indonesia (urge economic and political reforms)
-Endorsed G7 Finance Ministers' New Financial Architecture
-Summit focused on debt relief, employability, and international crime
-New format, including leaders' retreat and separate meetings of G7/G8 Finance and G8 Foreign Ministers, hailed a success
Sources: Declarations of Western Economic Summits 1975-1998 and Putnam, Robert D., Bayne, Nicholas. Hanging Together: The Seven-Power Summits. Harvard University Press, Cambridge. 1984.

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Updated: June 25, 1998

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