In the Group of Seven (G7) and the Group of Twenty (G20), countries with similar economic interests meet in informal advisory sessions to make joint decisions and share new impetus. The G7 comprises Canada, France, Germany, Italy, Japan, the United Kingdom and the Uni-ted States of America. The Deutsche Bundesbank is represented by its president in the discussions held by G7 finance ministers and central bank governors. The members of the G20 are the G7 plus the EU, Argentina, Australia, Brazil, China, India, Indonesia, Mexico, Russia, Saudi Arabia, South Africa, South Korea and Turkey. It thus represents around two-thirds of the global population. The finance ministries and central bank governors of these countries are responsible for their membership of the G20.