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11/10/2014

IAS Paper

39th G-8 Summit* ~ IAS Paper

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39th G-8 Summit* ~ IAS Paper

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The 39th G-8 Summit was held on June 17-18, 2013 at the
Lough Erne Resort, a five-star hotel and golf resort on the
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39th G-8 Summit* ~ IAS Paper

shore of Lough Erne in county Fermanagh, Northern Ireland.


It was the sixth G-8 Summit to be held in the United
Kingdom. The earlier G-8 Summits hosted by the UK were
held in London (1977, 1984, 1991), Birmingham (1998) and
Gleneagles (2005).
The
official theme of the Summit was tax evasion and
transparency. However, the Syrian civil war dominated the
discussions. A seven- point plan on Syria was agreed to after
much debate. Other agreements included a way to automate
the sharing of tax information, new rules for mining
companies and a pledge to end payments for kidnap victim
releases. The United States and the European Union agreed
to begin talks towards a broad trade agreement.
Overview
The Group of Six (G-6), started in 1975, was an unofficial
forum which brought together the heads of the richest
industrialized countries : F.rance, Germany, Italy, Japan, the
United Kingdom and the United States. This select few
became the Group of Seven (G-7) starting in of the
European* Commission has been formally included in
Summits since 1981.
Agenda
Officially, tax evasion and transparency were the themes of
the Summit. However, the Syrian civil war dominated the
agenda. According to Cameron, it was also the most difficult
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39th G-8 Summit* ~ IAS Paper

issue addressed. However, the leaders were able to


overcome major differences and agree to a path forward. A
declaration signed by the eight nations outlines a sevenpoint plan for Syria. It calls for more humanitarian aid,
'(maximizing) diplomatic pressure' aiming for peace talks,
backing a transitional government, '(learning) the lessons of
Iraq' by maintaining Syria public institutions, ridding the
country of terrorists, condemning the use of chemical
weapons' 'by anyone', and instilling a new non-sectarian
government. They called for UN investigations into the use
of chemical weapons with the promise that whoever had
used them would be punished. Although Syrian President
Bashar al-Assad was not mentioned by name in the
declaration, Cameron said it was 'unthinkable' that he would
remain in power.
Agreements were also reached on global tax evasion and
data sharing. The G-8 nations agreed to tighten rules on
corporate tax that sometimes allow companies to shift
income from one nation to another to avoid taxes. They
agreed that shell companies should have to disclose their
true owners and that it should be easy for any G-8 nation to
obtain this information. Going forward, corporate and
individual tax information will be shared automatically to
help detect tax fraud and evasion. The Organisation for
Economic Cooperation and Development was assigned to
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39th G-8 Summit* ~ IAS Paper

gather data on how multinationals evade taxes.


The G-8 nations agreed that oil, gas and mining companies
should report payments from the government, and likewise
that the governments should report the resources they
obtain. The measure was aimed at helping developing
countries collect taxes from first-world companies operating
in their territories. A declaration to stop paying ransom
demands for kidnap victims was also signed.
During the Summit the United States and the European
Union (EU) announced they would enter into trade deal
negotiations. Canadian PM Stephen Harper said the EU and
Canada were close to wrapping up a similar deal after years
of negotiations which should not be affected by the US-EU
announcement.
Harper and Obama also had an informal meeting to discuss
border relations during the Summit. Harper said they
discussed "a range of Canada-US issues that you would
expect, obviously the Keystone pipeline".
Participants
Core G-8 Members
Host state and leader are shown in bold test
Member Represented by Title
Canada Stephen Harper Prime Minister
France Francois Hollande President
Germany Angela Merkel Chancellor
Italy Enrico Letta Prime Minister
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39th G-8 Summit* ~ IAS Paper

Japan Shinzo Abe Prime Minister


Russia Vladimir Putin President
United Kingdom David Cameron Prime Minister
United States Barack Obama President
European Union Jose Manuel Barroso Commission
President
Herman Van Rompuy Council President
Invited Leaders
Ireland, European Union : Enda Kenny, Taoiseach, and
current chair (January-June 2013) of the rotating EU
Presidency for talks on the sidelines of the Summit about a
US-EU trade deal.
Posted by Sandeep Kumar at Wednesday, August 28, 2013
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Labels: Articles, Current Affairs, General Knowledge, Information, Longest and Largest, Newspaper, World

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