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Handbook of Safeguarding Global Financial Stability by Gerard Caprio

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Chapter 36

GroupsG-5, G-7/8, G-10, G-20, and Others

A. Baker

Queen’s University Belfast, Belfast, Northern Ireland, UK

Outline

Introduction

Even looking from afar, a casual observer would be drawn to the verdict that the array of ‘G’ groups – the Group of Seven (G7), the G8, and the G20 – comprising differing configurations of the world’s leading governments, are central to the governance of the global financial system. During the peak of the recent financial crash in the second half of 2008 and the first half ...

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