Inside Story Americas - Does the G8 represent a modern world economy?

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Thirty seven years ago as the world grappled with a major economic crisis, leaders of six of the world's biggest economies gathered in France. Henry Kissinger, US secretary of state at the time said the G6 would give people a sense they are masters of their destiny and be a bulwark against the blind forces beyond their control.

In the intervening years the six has become eight with the US, Britain, France, Italy, Germany and Japan joined by Canada and Russia.

And as the eight leaders congregate at Camp David outside Washington, the agenda is similar to 1975 - economic crisis. As the Eurozone threatens to implode, fevered discussions are expected on how much pain should be inflicted in order to preserve the financial order.

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