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 Wow, could've had a G8 - White House Press Briefing by Dana Perino 10/7/08 — Tuesday, October 07, 2008 —  MS. PERINO: Wendell. Q As we've dealt with this crisis over the past month and a half or so, the talks -- the international talks have involved the G7, not the G8. Is Moscow, in this regard, paying the price for its overreaction to the Georgia incursion? MS. PERINO: I've not heard that come up, because -- and I don't know all the details; I'd refer you to Treasury about the G7 and the makeup. But usually when they're talking the finance ministers meeting, those have been held at the G7 level, though I think there is some observance or participation at the Russian level, and that will be true this weekend, as well. Q That will be true this weekend as -- because Russia's stock market has lost about half its value this year. They are also suffering in this thing. Do we feel we need them, given they're a huge energy provider for Europe? MS. PERINO: Well, I think that you should go back and -- well, you have to ask Europe that. And I think that obviously energy is an issue. They've been working to try to diversify and develop more supply and different types of supply there in their own hemisphere. But the Russian stock market -- and I'm not an expert in this -- but you could go back -- they didn't just lose value over the past two weeks. They've been losing value since about -- since May -- Q All year. MS. PERINO: -- or maybe all year, but I know that a precipitous drop since May. Again, I don't comment on the daily market movements here, and I can't do it in terms of the Russian ones. But clearly, if you look back in August, if you want to try to make a parallel, when we were dealing with the situation when Russia invaded Georgia, yes, I think that they did -- the world did react negatively to that. Q But I just want to make sure that the -- in the current financial situation, I want to -- the question remains whether Russia is being punished, in effect. MS. PERINO: As I said, I'll have you check with Treasury for the exact list of who all will be here. But it's usually -- when the G7 meets, it's usually just the finance ministers. And that's been the way it's been -- I think we inherited that policy for a while. But I think that the Russian -- I can't remember -- Q So the G8 meets on political matters, the G7 on financial matters? MS. PERINO: I believe so. I don't want to say for sure. But the G7 -- I'm sorry, Treasury will have the list today. But I do think that they send an observer. Dana Perino | Economy | G7 | G8 | Press Briefing | Treasury Department | Wendell Goler | White House Press Corps Labels: Dana Perino, Economy, G7, G8, Press Briefing, Russia, Treasury Department, Wendell Goler, White House Press Corps
Posted by White House Press Corps @ 3:48 PM 
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