Italy aims to expand G8 to include China, India, Brazil

ROME (Reuters) - Italy will champion the expansion of the Group of Eight leading industrial nations to include countries such as China, India and Brazil when it assumes the G8 presidency next year, its economy minister said.

"We can no longer wait ... to transform the G8 into the G14, to let China enter, to let India enter, to let South Africa, Mexico and Brazil enter," Giulio Tremonti said.

Tremonti earlier this month also said Italy aims to use its G8 presidency to spearhead new rules to avoid financial crisis such as the current one. He singled out tax havens and false accounting as two areas where tighter regulations were needed.