2. The G-7 leaders had an extensive discussion of the international institutional reform topic, without their sherpas present, during their opening dinner on the first night. President Clinton suggested that on the 50th anniversary it was time to take stock of the 1944-45 institutions. Prime Minister Chretien engaged in a philosophical discussion with President Mitterrand about the role of the international financial institutions and how the International Monetary Fund had relinquished control of the international monetary system to currency speculators.

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