FinMin attending Eurogroup, Ecofin, General Affairs Council, ESM, EIB meetings

Minister of Finance, Makis Keravnos is travelling to Luxembourg to take part in the General Affairs Council's Ministerial Meeting on Cohesion Policy, the Eurogroup and Ecofin meetings to be held on 20-21 June 2024, as well as the annual meetings of the Boards of Governors of the European Stability Mechanism (ESM) and the European Investment Bank (EIB).

In the margins of the meetings, the Finance Minister is also expected to meet with the new EIB President Nadia Calviño to discuss the operation of a local EIB office in Cyprus.

Specifically, according to an announcement by the Ministry of Finance, on 18 June, Keravnos will represent the Republic of Cyprus at the Ministerial Meeting of the General Affairs Council on Cohesion Policy issues.

The main topic of the meeting is the link between the Cohesion Policy and the new EU Strategic Agenda 2024-2029, which is expected to be adopted by the European Council around the end of June 2024. In addition, Ministers are invited to endorse the Council Conclusions on the Communication on the 9th Report on the Future of Cohesion Policy. 

On 20 June, Keravnos will participate in the Annual Meeting of Governors of the European Stability Mechanism (ESM) and the Eurogroup.

The Eurozone Finance Ministers will exchange views on fiscal policies and macroeconomic developments in the Euro area with representatives of the IMF, and then on the international role of the euro in the context of current geopolitical developments. They will then discuss ways in which EU industrial policy can contribute to improving the competitiveness of the European economy.

On 21 June, the Finance Minister will participate in the Economic and Financial Affairs Council (ECOFIN), which will start with an exchange of views on the economic consequences of the Russian invasion of Ukraine, in the presence of the Ukrainian Finance Minister.

Afterwards, Finance Ministers will exchange views to reach an agreement on the European Commission's package of proposals on "VAT in the digital age" aimed at combating tax fraud through the use of technology and making the VAT system more efficient for businesses.

Furthermore, the Finance Ministers will have a first exchange of views on the Spring Package of the European Semester for the coordination of economic policies in the EU and will be informed on the progress of the implementation of the Recovery and Resilience Mechanism in Europe. 

Also on 21 June, Keravnos will participate in the Annual Meeting of Governors of the European Investment Bank (EIB) and will have a private meeting with the President of the Bank, Nadia Calviño.

The subject of the Minister's private meeting with the EIB President will be the operation of a local EIB office in Cyprus with the aim of further strengthening the Bank's cooperation with the various local institutions and partners, both in the public and private sectors, the Ministry of Finance adds.

(Source: CNA)