Group of Thirty
From Wikipedia, the free encyclopedia
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:
- Foreign exchange, currency, etc.
- International capital markets
- International financial institutions
- Central banks and supervision of financial services and markets
- Macroeconomic issues such as product and labor markets, etc.
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[1], 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 is Paul Volcker.
The Bellagio Group, formed by Austrian economist Fritz Machlup, was the immediate predecessor to the Group of Thirty[2]. It first met in 1963, to investigate international currency problems, particularly the balance of payments crisis which America faced throughout the early 1960's.
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[edit] Membership
The current members of the Group of Thirty are:
- Paul Volcker - Chairman of the Board of Trustees; former Chairman of the Federal Reserve
- Jacob A Frenkel - Chairman; Vice Chairman, American International Group
- Geoffrey L Bell - Executive Secretary
- Leszek Balcerowicz - President, National Bank of Poland
- Jaime Caruana - Governor, Banco de España
- Roger W. Ferguson, Jr. - former Vice Chairman, Federal Reserve Board, Member of Executive Committee and Head of Financial Services, Swiss Re
- Stanley Fischer - Governor, Bank of Israel
- Mervyn Allister King - Governor of the Bank of England
- Guillermo Ortiz Martinez - Governor, Banco de México
- Jean-Claude Trichet - President, European Central Bank
- Tommaso Padoa-Schioppa - Member of the Executive Board, European Central Bank
- Zhou Xiaochuan - Governor, People's Bank of China
- Yutaka Yamaguchi - Former Deputy Governor, Bank of Japan
- E Gerald Corrigan - Managing Director, Goldman Sachs
- Andrew Crockett - President, JP Morgan Chase
- David Walker - Chairman Morgan Stanley
- William R. Rhodes - Senior Vice Chairman, Citigroup
- Jacques de Larosière - Conseiller, BNP Paribas
- Guillermo de la Dehesa - Director, Aviva Group
- Arminio Fraga - Partner, Gávea Investimentos
- Domingo Cavallo - Robert Kennedy Visiting Professor in Latin American Studies, Department of Economics, Harvard University
- Martin Feldstein - President, National Bureau of Economic Research
- Peter B. Kenen - Walker Professor of Economics & International Finance, Department of Economics, Princeton University
- Paul Krugman - Professor of Economics, Woodrow Wilson School, Princeton University
- Lawrence Summers - Charles W. Eliot University Professor, Harvard University
- Marina v N. Whitman - Professor of Business Administration & Public Policy, Ford School of Public Policy, University of Michigan
- Ernesto Zedillo, Director, Yale Center for the Study of Globalization, Yale University, and former President of Mexico
- Gerd Häusler - Counsellor and Director, International Capital Markets Department, International Monetary Fund
- Toyoo Gyohten - President, Institute for International Monetary Affairs
- Abdalatif A-Hamad - Chairman, Arab Fund for Economic and Social Development
[edit] Emeritus members
- Rt. Hon. Lord Richardson of Duntisbourne - Honorary Chairman
- Erik Hoffmeyer - Former Chairman, Danmarks Nationalbank
- Shijuro Ogata - Former Deputy Governor, Bank of Japan
- Richard A Debs - Advisory Director, Morgan Stanley
- Wilfried Guth - Deutsche Bank
- Ernest Stern - Partner and Senior Advisor, The Rohatyn Group
- Sylvia Ostry - Distinguished Research Fellow, Munk Centre for International Studies, Toronto
- Gerhard Fels - Former Director, Institut der deutschen Wirtschaft
- John G Heimann - Senior Advisor, Financial Stability Institute
- William J McDonough - Chairman, Public Company Accounting Oversight Board
[edit] Other former members
Other former members include:
- Austrian-American economist, Fritz Machlup
- former Kennedy-era treasury official, Robert Roosa
- former deputy Bank of England governor, Rupert Pennant-Rea
- former Bundesbank President, Karl Otto Pöhl, and
- the former Federal Reserve chairman, Alan Greenspan
[edit] References
- ^ Karen Epper Hoffman (March 25th, 2005). G30 Members Discuss Critical Concerns For American Corporations. AFP Online.
- ^ Gottfried Haberler. Fritz Machlup: In Memoriam. Cato Journal. Cato Institute.
