ABSTRACT
The meetings of the Group of Seven (G7) finance ministries and central banks have been used to discuss national macroeconomic and exchange rate policies, to develop shared policies in relation to the international financial institutions, and to reach agreement on the general design of the global financial system. G7 activities have revolved around managing financial crises, instigating long-term responses to those crises and outlining, protecting and promoting core principles for macroeconomic policy and global financial governance. The G7 process has come to act as a forum for the discussion and formulation of joint positions on many issues relating to the design of the international financial system. How certain domestic interests and positions are promoted during the course of G7 deliberations and how certain interests are represented in the institutional arrangements of G7 finance ministries and central banks cannot be ignored in explanations of contemporary G7 co-operation. The chapter also presents an overview of the key concepts discussed in this book.
