THE G8 stands for Group of Eight, and its members are the United States, Britain, Canada, France, Germany, Italy, Japan and Russia. The G8 meets once a year to discuss the state of world economics and politics.
WHERE IS IT BEING HELD?
L'Aquila, the town in Abruzzo, Italy, struck by an earthquake in April that left 300 dead.
WHICH OTHER NATIONS ARE ATTENDING?
The Group of Five developing nations: Brazil, China, India, Mexico and South Africa.
Representatives of the Major Economies Forum countries: Australia, South Korea, Indonesia and Denmark.
Plus Angola, Algeria, Nigeria, Senegal, Ethiopia, the Netherlands, Spain, Turkey, Egypt and the African Union.
WHAT ARE THE BIG ISSUES?
CLIMATE In advance of the United Nations summit in Copenhagen in December, which will replace the 1997 Kyoto pact, the G8 leaders are aiming to agree on a goal to limit global warming to no more than 2 degrees. Temperatures are expected to rise between 1.1 and 6.4 degrees this century depending on the policies agreed to. Experts believe a rise above 2 degrees will lead to famine and flood endangering hundreds of millions of people.
This aim could also be adopted by the 17-member Major Economies Forum. India and China have refused to adopt a 2050 target until rich nations set more demanding targets.
THE GLOBAL FINANCIAL CRISIS The G8 has discussed exit strategies from the downturn and warned the global economy faces dangers in the coming months and a recovery from recession is some way off.
ALSO DISCUSSED:
GLOBAL CURRENCY China has requested discussion of the position of the US dollar as the world's global reserve currency.
GLOBAL FOOD SECURITY The G8 will discuss setting up a taskforce to monitor the possibility of a food security fund for less developed nations.
IRAN Italy and Germany have called for the summit to tighten sanctions on Iran and send a strong signal on human rights while keeping open the possibility of talks on its nuclear program.
TRADE An attempt to revive world trade talks, which failed last year because the US and developing nations disagreed over agricultural subsidies.
OIL France's President, Nicolas Sarkozy, wants to discuss regulating oil prices to prevent the wild swings of recent years.
NORTH KOREA G8 leaders will condemn its nuclear test in May.
© 2007 The Sydney Morning Herald
