The decisions of the Eurogroup and ECOFIN must take into account the impact of energy developments on households and businesses, Minister of Finance Makis Keravnos has stressed.
In a statement on his participation in the Eurogroup and the Economic and Financial Affairs Council (ECOFIN), taking place in Luxembourg on 8 and 9 October 2026, the Minister says that he is travelling to Luxembourg with one main priority: "that the decisions of the Eurogroup and ECOFIN take into account the impact of energy developments on households and businesses."
He adds that "as I have already said publicly, we have requested a derogation on the excise duty on heating oil, to reduce a cost that households feel directly, especially in winter."
Together, the Minister says, with other Member States, "we are also making the case for additional fiscal space, with greater flexibility within the economic governance framework, so that governments can effectively support and protect citizens and businesses when circumstances require it."
"The rules must keep pace with reality, and the framework has already shown that it can adapt when energy security is at stake," he stresses.
Referring to ECOFIN, Keravnos notes that the main item on the agenda is the market integration and supervision package.
"A more integrated European market for financial services will make it easier for businesses to access finance and will strengthen Europe's competitiveness."
We will, he adds, contribute constructively to the Irish Presidency's efforts to reach an agreement, while asking that the specific characteristics of smaller markets, such as Cyprus, be considered.
"Europe's competitiveness and the protection of its citizens must go hand in hand, and this is the approach I will take in the discussions," he concludes.
(Source: CNA)
