Chapter News

Preparation of Economic and Finance Ministers Council (ECOFIN)

On 10 November in Brussels, Vice-President Dombrovskis, Commissioner Moscovici and Commissioner Hill will participate in the EU’s Council of Economic and Finance Ministers, which will be followed by a press conference, transmitted by EbS. Ministers are due to adopt conclusions on the Capital Markets Union Action Plan that the Commission presented on 30 September.

The EU and its Member States have committed to scaling up the mobilisation of climate finance ahead of the COP21 which will be held in Paris in December. The Council is expected to adopt conclusions on how Member States can contribute their share of the developed countries’ goal to jointly mobilise USD 100 billion per year by 2020. Furthermore, the Council is expected to have a first exchange of views on the European Commission’s package of measures to begin implementing the ambitious plan to deepen Europe’s Economic and Monetary Union, following the Report of the Five Presidents, published in June.

During the meeting, Ministers will also take stock of the implementation of the Banking Union. The Commission will reiterate its call on Member States to live up to their commitments in order to fully implement the regulatory framework. Discussions on bridge financing for the Single Resolution Fund will also rank high on the meeting agenda, while Ministers are also due to agree on the Commission’s March proposal to repeal the EU’s directive on the taxation of savings income.

Finally, Ministers will be updated on the October G20 meetings in Lima. Vice-President Dombrovskis will also participate in the Ministerial dialogue with the EFTA (European Free Trade Association) countries, which will precede the ECOFIN meeting.

More information coming soon.

Courtesy of the European Parliament