The Minister of National Economy and Finance Kostis Hatzidakis is going to Brussels Monday, where he will attend the Eurogroup and Ecofin meetings.

Basic topic of discussion It will be the funding of increased defense needs, in the light of the relevant decisions of the European Council of March 6 to activate the escape clause and the creation of a special fund in favor of defense spending. This issue will be discussed at an informal work dinner organized on the initiative of the Polish Presidency on March 10 and on Ecofin’s breakfast the next day.

On Monday, the Eurogroup meeting will be held, where the agenda includes a debate on the macroeconomic prospects and challenges of the eurozone as well as the coordination of the budgetary policies of the Member States, taking into account the new data created in the field of defense. Ministers will also be informed about the results of the recent meeting of the Ministers of Finance and G7 Central Banks in Cape Town and exchange views on developments in cryptocurrency markets and their impact.

At the ECOFIN meeting, which will take place on Tuesday, March 11th, key topics of discussion will be the package of measures presented by the European Commission to simplify and improve the business environment in Europe (Omnibus Package) as well as the Directive on Taxation in the field of Taxation (ODAS9). Ministers will also exchange views on developments on the economic and budgetary impact of Russia’s attack on Ukraine, with emphasis on the effective implementation of sanctions from the customs authorities. In addition, regular update on the implementation of the Recovery fundwhile the revised national plans of Belgium and Ireland are expected to be approved.

On the sidelines of the meetings, Mr. Hatzidakis will meet with European officials.