In light of the major imbalances facing the Latvian economy, accentuated by the financial market strains, and given the Latvian authorities' firm commitment to implement a major programme of economic adjustment, the European Union intends to provide medium-term financial assistance to Latvia of up to € 3.1 billion.

The EU economic and financial affairs ministers hold an informal meeting on 18 December in Paris, in the presence of Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF).

Following the G20 meeting, the ECOFIN informal identified European guidelines regarding non-cooperative jurisdictions, the FMI’s resources, and the setting up of an early warning system to prevent financial crises.

The first Euro-Mediterranean Forum dedicated to technical and vocational education and training was held on 18 December in Marseilles, under the co-presidency of Mohamed Rachid, the Minister of Trade & Industry of the Arab Republic of Egypt and Laurent Wauquiez, the French Minister of State for Employment. This event was held within the framework of the Union for the Mediterranean and the French Presidency of the Council of the European Union.

This seminar is an opportunity to bring together businesses, non-governmental organisations, public institutions, and European financial backers, in order to report on progress concerning national and European initiatives that aim to encourage businesses to be more open to development.

At the invitation of Christine Lagarde, the French Minister for the Economy, Industry and Employment, the national coordinators for the Lisbon Strategy, i.e. the representatives of the 27 Member States responsible for coordinating the strategies for growth and employment in Europe, met this morning in Paris.

This conference will facilitate exchanges between the Lisbon Strategy coordinators and debates with representatives of the social partners and civil society.

BusinessEurope will be welcomed to Paris by the French employers' association, MEDEF, on the occasion of its 50th anniversary and the meeting of its Council of Presidents.

The December Ecofin Council meeting was devoted to responding to the economic slowdown, preparing the European Council meeting, strengthening financial stability and addressing various tax issues.

Main results of the ECOFIN Council: Common approach of the Council in favour of a concerted European Recovery Plan and advances made on a number of points with regard to bolstering the stability and solidity of the European financial sector and taxation.

The next stages in deepening the economic component of the Association Agreement.

During this symposium, businesses and national and European political authorities will exchange their views concerning responses designed to improve market access for businesses.

The customs directors-general will meet for a seminar on the fight against counterfeiting.

This forum aims to develop new proposals for action to put the actors of the financial industry at the service of development, social progress and the environment.

This European conference will review the current situation of senior employment within the European Union.

The Council Presidency and the Commission express the European Union's commitment to provide financial support to Latvia in the context of the market pressures that have recently emerged.
 

During this session, the Council's discussions with the European Parliament should enable a final compromise to be reached on the 2009 budget.

Presided over by Eric Woerth, the French Minister for the Budget, Public Accounts and the Civil Service, on 21 November 2008 the Council of the European Union for Economic and Financial Affairs unanimously approved the draft budget of the European Communities for 2009 after a very productive meeting with the European Parliament.

The conference aims to evaluate the sums of money generated by drug trafficking and to improve the tools and practices used to identify, seize and manage criminal assets.

A summit of the main countries and institutions concerned by the financial crisis took place on 15 November 2008 in Washington.

A summit of the main countries and institutions concerned by the financial crisis is taking on 15 November 2008 in Washington.

The Heads of State or Government of the European Union met in Brussels on 7 November 2008 ahead of the international summit on the financial crisis which will be held on 15 November in Washington, a summit which should pave the way for reform of the international financial system. The Heads of State of Government once again expressed the unity of the EU Member States as they confront the crisis, and agreed on a number of specific principles and approaches which could be adopted at the summit of 15 November.

The creation of a Euro-Mediterranean free trade area requires the development of co-operation agreements and particular attention paid to product conformity.

Christine Lagarde chaired an ECOFIN Council meeting with the countries of the European Free Trade Association (EFTA - Iceland, Liechtenstein, Switzerland and Norway). This meeting was an opportunity to exchange views on the financial crisis, its consequences and to draw lessons from it, particularly with regard to transparency in financial and tax matters.

At the Council of EU economy and finance ministers (ECOFIN Council) of 4 November presided over by the French Minister for the Economy, Industry and Employment, Christine Lagarde, the ministers focused their discussions on the pursuit of efforts to respond to the financial crisis, citing the coordination of national action to support the financial sector, the granting of assistance to EU countries affected by the crisis and the common messages that the EU should present at the debate on overhauling the international financial system.

The financial crisis is at the heart of the ECOFIN Council discussions and meetings with European social partners and EFTA countries (European Free Trade Association).