The G8 has outlived its purpose

The left-liberal daily Népszabadság writes that after its summit meeting in L'Aquila, the G8 group is in a deep crisis. "You can call the meeting of G8 countries anything you like, but not a G8 summit. Just as the Italian city of L'Aquila where the meeting took place was devastated by an earthquake, so the 30-year-old institution has been battered by the financial and economic crisis. And just as the traces of the earthquake can still be seen in L'Aquila, so huge gaps exist between the G8 states and their partner countries. ... The G8 summit has outlived its purpose, that was already clear before the crisis. If the international institutions created after World War II had been reformed when the shift in the global economic power relations became apparent, the world would have been able to meet today's crisis far more effectively."

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