G7 Finance Ministers' and Central Bank Governors' Meeting
The city of Rome is hosting the first ministerial session in Italy's year-long stint as G8 president. The people in charge of the economy in the world's seven most industrially advanced are meeting in the Italian capital on 13 and 14 February. They will also be joined by their Russian counterparts for some of the working sessions. The economy ministers are accompanied by their respective central bank governors. The EU commissioner for economic and monetary affairs, the chairman of the Eurogroup, the chairman of the European Central Bank (ECB), the director of the International Monetary Fund (IMF), the president of the World Bank and the chairman of the Financial Stability Forum will also be attending some of the meetings.
In a move to broaden out the dialogue on global economic issues, Economy Minister Giulio Tremonti has also invited the chairman of the International Monetary and Financial Committee (IMFC), the secretary general of the OECD, the chairman of the Alliance for a Green Revolution in Africa (AGRA), the director general of the World Trade Organisation (WTO), the secretary general of the United Nations Conference on Trade and Development (UNCTAD) and the chairman of the International Fund for Agricultural Development (IFAD).
The talks will be focussing on the financial and economic crisis, and the action required to stabilize the global economy. Thrashing out shared ground rules and countering the protectionist inclination – which tends to get stronger in times of economic difficulty – are the two guidelines underpinning the Italian presidency's working agenda, with the aim of improving the transparency and proper functioning of the markets. In a move in that direction, the Italian presidency is promoting the adoption of a legal standard, in other words a minimum set of ground rules governing the transparency and propriety of international economic and financial activity, which the international community as a whole should commit to adopting. The talks will also focus on boosting cooperation among market oversight and regulatory authorities, and on reform of the international financial institutions. A special session will also be devoted to the current food crisis in an effort to ensure lasting food security through the adoption of a long-term approach.
Agenda
Opening on Friday 13 February with a working dinner at Villa Madama, a Renaissance villa on the slopes of Monte Mario which the Foreign Ministry uses to host major events.
On Saturday morning 14 February, official sessions of the meeting at Palazzo delle Finanze, which houses the Finance Ministry.
On Saturday afternoon, various news conferences at the Excelsior Hotel on Via Veneto. The round of news conferences kicked off with the Italian Presidency, with Economy Minister Giulio Tremonti and Bank of Italy Governor Mario Draghi speaking in the "Giardino d'Inverno" room. News conferences to follow: United States, "Giardino d'Inverno; European Central Bank, "Campidoglio" room; Canada, "Fori" room; Japan, "Boncompagni" room; Germany, "Trianon" room.
Documents:
Final Declaration (pdf file format)
