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Staikouras: The finance minister for Eurogroup and Ecofin will be in Brussels on Monday and Tuesday

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Finance Minister Christos Staikouras will participate in the Eurogroup and Ecofin processes as well as the meeting of the European Stability Mechanism

At Brussels will be located on Monday December 5 and Tuesday December 6, 2022 the Minister of Finance Christos Staikouras, in order to participate in the Eurogroup and Ecofin meetings.

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In particular, tomorrow the Christos Staikouras will take part in the meeting of the finance ministers of the euro zone, in which the overall picture of the budgets of the member states and the economic prospects of the single currency zone will be discussed. This will be followed by a first exchange of views on the recommendations for economic policy in the euro area, prepared by the European Commission for the European Council.

Afterwards, the European Commission’s communication on the directions for the reform of the European Union’s economic governance framework will be discussed, as well as the Post-Program Monitoring Reports of Cyprus, Ireland, Portugal and Spain.

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The Eurogroup will also discuss the 1st Post-Program Monitoring Report of Greece, which was successfully completed about 10 days ago, and on the basis of the Report is expected to decide on the implementation of agreed Greek debt relief measures linked to the implementation of specific policies . These measures include the release of the eighth and final tranche of the profits of the European central banks from the purchase of Greek bonds (ANFA/SMP), which was pending from the first half of 2019, the zeroing for the second half of 2022 of the additional margin (step-up margin), the integration of which is foreseen in the loan interest rate granted by the EFSF to Greece, and for the first time the permanent reduction of this margin to zero for the period 2023-2049.

Finally, eurozone finance ministers will exchange views on its work programme Eurogroup for the first half of 2023 and will proceed to the election of the president of the Eurogroup. The Eurogroup will also meet tomorrow in an expanded composition, with the agenda of macroeconomic developments and prospects, focusing on coordinating efforts to address high energy prices and inflationary pressures.

The Minister of Finance will take part, also tomorrow, in the meeting of his Board of Directors European Stability Mechanism (ESM).

The day after tomorrow, Mr. Staikouras will participate in his meeting Ecofinin which the course of implementation of the Recovery and Resilience Fund and the Recovery and Resilience Plan of Hungary will be discussed, as well as the proposal for an implementing decision on measures to protect the European Union budget against violations of the principles of the rule of law in Hungary.

The agenda of the session also includes a discussion on financial support to Ukraine, the Directive on ensuring a global minimum level of taxation of multinational groups in the European Union, the European Union budget for 2023, the review of the Union’s economic governance framework , the revision of the energy taxation directive, the course of legislative proposals for financial services, etc.

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