In Brussels, the Minister of National Economy and Finance Kyriakos Pierrakakis, where he will participate in critical Eurogroup and Ecofin meetings, which will take place on July 7 and 8 respectively.

At the Eurogroup meeting today Monday, July 7, the eurozone finance ministers will be elected new president of the instrument. The agenda includes, inter alia, financial coordination issues, the assessment of the international role of the euro, and the further strengthening of the Capital Markets Association.

Particular emphasis is expected to be given to the plan progress for the Digital euro.

Tomorrow, Tuesday, July 8, the Ecofin Council meets for the first time under Danish presidency to the EU Council. For Greece, the main stake is the adoption of European Commission’s recommendations on the activation of the national escape clause for the defensive costswhich concerns a total of 15 Member States.

Greece was one of the first countries to they submitted a requeston the basis of the decision of the European Council of 6 March 2025, requesting the exemption of defense expenditure from the budgetary objectives. The adoption of the clause will allow the country to increase the relevant costs by 500 million euros for the 2026further enhancing national defense and deterrent power in a period of intense geopolitical instability.

As part of the Ecofin meeting, ministers will also discuss:

  • the priorities of the Danish Presidency
  • International developments in tax and trade issues
  • The presentation of the new package of measures for the revision of the European Framework of securitization, in the context of the savings and investment union
  • the approval of the necessary legal acts for the introduction of the euro by Bulgaria on 1 January 2026

At the same time, the specific recommendations and thorough evaluations of the European Commission on the economic course of the Member States will be adopted.

On the sidelines of the work, Mr. Pierrakakis will have bilateral meetings with European officials.