Finance Minister Christos Staikouras will be in Brussels for the next two days, in order to participate in the Eurogroup and Ecofin meetings.
At Brussels the Minister of Finance will be on Monday November 7 and Tuesday November 8 Christos Staikouras, in order to participate in Eurogroup and Ecofin meetings. Meanwhile, before the Eurogroup meeting, Mr. Staikouras will have a bilateral meeting with Bulgaria’s Finance Minister Rositza Velkova-Jeleva.
In particular, tomorrow the minister will take part in the meeting of finance ministers of the eurozone, in which the latest economic developments and the prospects for the single currency zone will be discussed, following presentations by the European Commission and the European Central Bank (ECB). In addition, the general picture resulting from the draft budgets submitted by the member states will be put on the discussion table, an issue on which the ministers are expected to return in December. The future of fiscal policy coordination in the Eurozone will also be examined.
The agenda of the meeting also includes the exchange of experiences and challenges from member states regarding the measures taken at national level to mitigate the impact of high energy prices on vulnerable households and businesses. Finally, eurozone finance ministers will discuss the results of recent international meetings and be briefed by Italy’s new finance minister Giancarlo Giorgetti on the political priorities of the country’s new government.
The Eurogroup will also meet tomorrow as a banking union to exchange views with ECB Supervisory Board Chair Andrea Enria and Single Resolution Board Chair Elke König regarding developments, challenges and opportunities in the banking sector in the current economic, geopolitical and financial environment.
On Tuesday, Mr. Staikouras will participate in his meeting Ecofin, which will discuss the implementation of the Basel III regulation, a set of reform measures aimed at strengthening the resilience of the European Union’s banking sector, as well as improving its supervision and risk management. In addition, the economic and fiscal implications of the Russian aggression against Ukraine are expected to be discussed and political directions may be given regarding the operational implementation of regular financial assistance to Ukraine.
Also, the agenda of the session includes a discussion on the taxation of heavy goods vehicles, an account of the implementation of the Recovery and Resilience Mechanism (RRF), as well as an update from the presidency on the progress of the legislative proposals under consideration in the field of financial services. Finally, the president of the European Fiscal Council will present the 2022 annual report of the ESM, while the European Commission will brief finance ministers on the implications for the European Union of the new US deflation law.
On the sidelines of Ecofin, a macro-economic dialogue meeting with the social partners will take place tomorrow, with energy prices as a central theme. Meanwhile, the day after tomorrow there will be a ministerial dialogue between the European Union and the European Free Trade Area (EFTA) on energy prices and inflation in the context of the current geopolitical situation.
RES-EMP
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