In November of 1975 the Rambouillet summit in France brought together the heads of state from France, the United States, Great Britain, Germany, Japan and Italy. From that time representatives of the major industrial powers have met every year to discuss the principal political and economic issues of the time. Canada later joined these six nations and the group became known as the G7. Russia's participation in the economic discussions started with the Denver summit in 1997, and participation became complete the following year in Birmingham. Thus the G7 became the G8.

The issues discussed at the summit include macroeconomics (international business, relationships with developing nations) and microeconomic consequences (employment, environment). Also discussed are problems linked to organised crime, to the spread of drugs, arms control, and terrorism.

This year (2002) the G8 Summit was held in Canada on June 26th to 27th. The Debt and Development Coalition Ireland organised a march to the Canadian Embassy in Dublin where they handed in a letter calling on Canada as a member of the G8 to play a strong role in pressing for a fair and speedy end to the debt crisis - see 'What We Do' section for more details