upcoming meeting in Washington, D.C. U.S. President Richard Nixon offered the White House as a venue, and the meeting was subsequently held in its library on the ground floor; the original group of four consequently became known as the "Library Group". In mid-1973, at the Spring Meetings of the International Monetary Fund and the World Bank, Shultz proposed the addition of Japan, which all members accepted. The informal gathering of senior financial officials from the U.S., U.K., West Germany, Japan, and France became known as the "Group of Five". In 1974, all five members endured sudden and often troubled changes in leadership. French President Georges Pompidou abruptly died, leading to a fresh presidential election that was closely won by Valéry Giscard d'Estaing. West German Chancellor Willy Brandt, American President Richard Nixon, and Japanese Prime Minister Kakuei Tanaka all resigned due to scandals. In the United Kingdom, a hung election led to a minority government whose subsequent instability prompted another election the same year. Consequently, Nixon's successor, Gerald Ford, proposed a retreat the following year for the group's new leaders to learn about one another. First summit and expansion At the initiative of Giscard d'Estaing and his German counterpart, Helmut Schmidt, France hosted a three-day summit in November 1975, inviting the Group of Five plus Italy, forming the "Group of Six" (G6). Taking place at the Château de Rambouillet, the meeting focused on several major economic issues, including the oil crisis, the collapse of the Bretton Woods system, and the ongoing global recession. The result was the 15-point "Declaration of Rambouillet", which, among other positions, announced the group's united commitment to promoting free trade, multilateralism, cooperation with the developing world, and rapprochement with the Eastern Bloc. The members also established plans for future gatherings to take place regularly every year. In 1976, British Prime Minister Harold Wilson, who had participated in the first G6 summit, resigned from office; Schmidt and Ford believed the group needed an English speaker with more political experience, and advocated for inviting Pierre Trudeau, who had been Prime Minister of Canada for eight yearssignificantly longer than any G6 leader. Canada was also the next largest advanced economy after the G6 members. The summit in Dorado, Puerto Rico later that year became the first of the current Group of Seven (G7). In 1977, the United Kingdom, which hosted that year's summit, invited the European Economic Community to join