Group of Thirty

G30 redirects here. For other uses, see G30 (disambiguation).
Group of Thirty

Consultative Group on International Economic and Monetary Affairs, Inc.
Established 1978
Chairman Paul Volcker
Executive Director Stuart P. M. Mackintosh
Faculty 30
Staff 5[1]
Budget $448k (FY07)
Location Washington, D.C.
Address

1726 M Street, NW, Suite 200

Washington, DC 20036 USA
Website www.group30.org

The Group of Thirty, often abbreviated to G30, is an international body of leading financiers and academics which aims to deepen understanding of economic and financial issues and to examine consequences of decisions made in the public and private sectors related to these issues. Topical areas within the interest of the group include:

The group is noted for its advocacy of changes in global clearing and settlement.

The group consists of thirty members and includes the heads of major private banks and central banks, as well as members from academia and international institutions. It holds two full meetings each year and also organises seminars, symposia, and study groups. It is based in Washington, D.C.

The Group of Thirty was founded in 1978 by Geoffrey Bell at the initiative of the Rockefeller Foundation,[2] which also provided initial funding for the body. Its first chairman was Johannes Witteveen, the former managing director of the International Monetary Fund. Its current chairman of trustees is Paul Volcker.

The Bellagio Group, formed by Austrian economist Fritz Machlup, was the immediate predecessor to the Group of Thirty.[3] It first met in 1963, to investigate international currency problems, particularly the balance of payments crisis which America faced throughout the early 1960s.

Contents

Work Programs

The Group of Thirty establishes study groups to analyze issues of particular or systemic importance to the global financial markets. Study group membership is typically broader than that of the G30, comprising experts in the specific field from the regulatory, financial and academic communities, and chaired by a leading figure. Currently the Group of Thirty’s Work Program is focused on financial regulatory systems.

The 2008 Financial Crisis and Its Aftermath: Addressing the Next Debt Challenge

In June 2011, The Group of Thirty released its latest occasional paper: The 2008 Financial Crisis and It's Aftermath: Addressing the Next Debt Challenge.[1] This report examines the most recent developments in the 2008 Financial Crisis, including the causes, responses and the future outlook for the United States and other markets.

Enhancing Financial Stability and Resilience: Macroprudential Policy, Tools and Systems for the Future.

The Working Group on Macroprudential Policy published Enhancing Financial Stability and Resilience: Macroprudential Policy, Tools and Systems for the Future [2] in late 2010. The report calls on public officials to empower systemic financial regulators with new tools to enhance economic stability and potentially lessen the severity of future economic crises. These tools would address leverage, liquidity, credit and supervision. The report underscores the fact that while policy action may be difficult and controversial, robust action is necessary.

Other Publications

Some recent publications released by the G30 are

Membership

The current members of the Group of Thirty are:

Senior Members

Emeritus members

Other former members

Other former members include:

See also

References

  1. ^ estimated from $233,607 salary expenditure, p. 24, http://www.group30.org/pubs/annualreport0607.pdf
  2. ^ Karen Epper Hoffman (March 25, 2005). "G30 Members Discuss Critical Concerns For American Corporations". AFP Online. Archived from the original on September 27, 2007. http://web.archive.org/web/20070927205401/http://www.afponline.org/pub/res/news/ns_20050325_g30.html. 
  3. ^ Gottfried Haberler. "Fritz Machlup: In Memoriam" (PDF). Cato Journal. Cato Institute. http://www.cato.org/pubs/journal/cj3n1/cj3n1-2.pdf. 

External links