When Italy takes up the chair of the Group of Eight leading nations in January the context will be very different to that of its 2001 presidency. Back then, the G8 was dealing with the consequences of a unipolar international system. Come 2009, near the top of the agenda will be the enlargement of the club to new powers, starting with China and India. But it is still not clear whether Italy will preside over the reform of the G8 or its burial; which, in a way, is the same thing.

Any reform of the G8 starts from the assumption that the current format is outdated. Until recently, however, it was not clear whether all G8 members wanted to engage in much more than an outreach exercise.