Finance Minister in Brussels for Eurogroup and Ecofin meetings

Finance Minister Makis Keravnos is in Brussels to participate in the Eurogroup and Ecofin Council meetings that will take place on 9 and 10 December.

On 9 December, the Minister will participate in the Eurogroup in inclusive format (with the participation of all EU member states), where Finance Ministers will exchange views on international economic developments in the presence of the British Chancellor of the Exchequer, Rachel Reeves, a Finance Ministry press release said.

The Finance Ministers of the 20 euro area countries will then exchange views with IMF representatives on the latest economic developments in the euro area, on the basis of the results of the IMF's mid-term review of the euro area economy, which is expected to be completed in June 2025.

It is added that the Ministers will examine the general budgetary situation, on the basis of the European Commission's recent assessments of the Eurozone Member States' draft budgets for 2025, while a joint statement is expected to be issued.     

On 10 December, the press release said, the ECOFIN Council will take place, starting with a presentation of the progress made on the legislative package of proposals for the reform of the EU Customs Union. Ministers will then exchange views in relation to the Energy Taxation Directive.

The ECOFIN Council will also be informed on the progress in the implementation of the Recovery and Resilience Mechanism and will be invited to endorse the amended Recovery and Resilience Plans of Sweden, Slovenia, Denmark and Belgium.

The Ministers will also exchange views on the economic consequences of the Russian invasion of Ukraine. Also during the ECOFIN Council, the President of the European Court of Auditors, Tony Murphy, will present the European Court of Auditors' (ECA) annual report on the implementation of the EU budget for the year 2023.

Finally, Ministers will be briefed on the outcome of the recent COP29 Climate Change Conference by Climate Action Commissioner Wopke Hoekstra, the press release concludes.

(Source: CNA)