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 Jean-Claude Trichet
Executive Director Stuart P. M. Mackintosh
Staff 4
Budget $448k (FY07)
Members 30
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 Foreign exchange market, international capital markets, international financial institutions, central banks and their supervision of financial services and markets, and Macroeconomic issues such as product and labor markets.

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. Current members of the group include current and former heads of the central banks of Argentina, Brazil, Britain, Canada, China, France, Germany, India, Israel, Italy, Japan, Mexico, Poland, Singapore, Spain, and Switzerland, as well as two chairmen of the Federal Reserve Bank of New York, two presidents of the European Central Bank, a chairman of the Basel Committee on Banking Supervision, two chairmen of the Bank for International Settlements, two chief economists of the International Monetary Fund, a chief economist of the World Bank, and the former President of Mexico. 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,[1] which also provided initial funding for the body. Its first chairman was Johannes Witteveen, the former managing director of the International Monetary Fund. The G30's current Chairman is Jean-Claude Trichet.[2] Its current Chairman of the Board of Trustees is Jacob Frenkel, and Paul Volcker is Chairman Emeritus.

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.

Work programs

The Group of Thirty establishes study groups to analyze issues of particular or systemic importance to global financial markets. The study groups typically include others than the members of the G30, comprising experts in the specific field from the regulatory, financial and academic communities. Currently, the Group of Thirty’s work program is focused on central banking.[4]

In June 2011, the group released a report that examines the most recent developments in the 2008 financial crisis, including the causes, the responses and the future outlook for the United States and other markets.[5]

Membership

The members of the Group of Thirty are:[6]

Senior members

Emeritus members

Other former members

Other former members include:[15]

References

  1. ↑ Karen Epper Hoffman (March 25, 2005). "G30 Members Discuss Critical Concerns For American Corporations". AFP Online. Archived from the original on September 27, 2007.
  2. ↑ "G30 November 22 11 Press Release FINAL" (PDF). Group of Thirty. Retrieved October 13, 2013.
  3. ↑ Gottfried Haberler. "Fritz Machlup: In Memoriam" (PDF). Cato Journal. Cato Institute.
  4. ↑ "Work Program". Group of Thirty. Retrieved September 24, 2013.
  5. ↑ Russo, Thomas A.; Katzel, Aaron J. "The 2008 Financial Crisis and Its Aftermath: Addressing the Next Debt Challenge" (PDF). Group of Thirty. Retrieved April 8, 2014.
  6. ↑ "Members". Group of Thirty. Retrieved October 13, 2013.
  7. ↑ "Gerd Häusler Biography". Group of Thirty. Retrieved January 1, 2014.
  8. ↑ "Al-Hamad Biography". Group of Thirty. Retrieved January 1, 2014.
  9. ↑ "Fels Biography". Group of Thirty. Retrieved January 1, 2014.
  10. ↑ "Gyohten Biography". Group of Thirty. Retrieved January 1, 2014.
  11. ↑ "Hoffmeyer Biography". Group of Thirty. Retrieved January 1, 2014.
  12. ↑ "Ogata Biography". Group of Thirty. Retrieved January 1, 2014.
  13. ↑ "Stern Biography". Group of Thirty. Retrieved January 1, 2014.
  14. ↑ "Emeritus Members". Group of Thirty. Retrieved October 13, 2013.
  15. ↑ "Past Members". Group of Thirty. Retrieved September 24, 2013.