The Minister of Finance, Mr. Christos Staikouras, is going to Brussels tomorrow, Monday, in order to participate in the meetings of the Eurogroup and Ecofin.
In particular, tomorrow Mr. Staikouras will take part in the meeting of the Eurozone Finance Ministers, where macroeconomic developments will be discussed, based on the European Commission’s Spring Forecasts. According to the agenda, the Eurogroup, based on the updated economic outlook, will discuss the appropriate policy response, taking into account the current economic challenges, with an emphasis on fiscal policies.
An exchange of views on the nominations for the post of Executive Director of the European Stability Mechanism (ESM) and an update on the European Commission’s views on the updated draft budgets of Germany and Portugal will follow.
The Eurogroup will then meet in an expanded format to discuss the draft work program for the completion of the Banking Union.
Prior to the Eurogroup meeting, the Minister of Finance will meet with his Czech counterpart, Mr. Zbyněk Stanjura, in view of the Czech Presidency of the EU. in the second half of 2022.
The day after tomorrow, Tuesday, Mr. Staikouras will attend the Ecofin meeting, at which the European Union Finance Ministers will discuss the economic and budgetary consequences of the sanctions imposed on Russia after its military invasion of Ukraine.
Ecofin is also expected to state its position (general approach) on the revised European long-term investment regulation. This Regulation lays down uniform rules for the licensing, investment policies and operating conditions of European Union Alternative Investment Agencies or their divisions available in the Union as European Long-Term Investment Funds (EMPS). Its purpose is to raise and channel capital into long-term investments in the real economy, in line with the goal of smart, sustainable and inclusive growth.
Finally, the Finance Ministers will be briefed on the follow-up to the G20 Summit of Finance Ministers and Governors.