Britannia Radio

CHANGED ROLE FOR GROUP OF SEVEN

G7 finance ministers and central bank governors used to hold global 
markets in their thrall when they met, given the combined financial 
firepower of the group's members - the United States, Germany, Japan, 
Britain, Italy, France and Canada.
But it lost its mantle as the main forum for thrashing out differences over the global economy in 2009 when responsibility was passed to the wider 
Group of 20 which includes emerging heavyweights such as China, Brazil 
and India. 

http://uk.reuters.com/article/2013/05/09/uk-g-idUKBRE9480CG20130509