Informal meeting of the economy and finance ministers in Nice
Christine Lagarde
© Conseil de l'Union européenne
- from: 12.09.2008
- to: 13.09.2008
- In: Nice
Discussions to focus on how to respond to the slowdown in growth and on strengthening financial stability.
The discussions of the informal meeting of the economy and finance ministers in Nice on 12 and 13 September next will essentially be devoted to analysing the current economic situation in Europe and how the Member States should collectively respond to this situation.
The informal ECOFIN will be preceded by a meeting of the Eurogroup, which will be held on the morning of 12 September and followed by a press conference.
The first ECOFIN session will focus on work aimed at reinforcing financial stability in the EU, a more pertinent priority than ever before with regard to restoring confidence in the context of the economic slowdown. The ministers, governors of the central banks, and representatives from the Commission and the European Central Bank (ECB) will examine the recent developments in the financial markets and the appropriate responses in the current context.
Discussions will then focus on monitoring mechanisms at EU level, with a view to adapting and bolstering current provisions to reflect the real issues of financial groups that are now operating on a continent-wide level. Representatives from the financial industry will present their views with regard to the supervision of cross-border financial groups. Ms Pervenche Bérès, the President of the Economic and Monetary Affairs Committee of the European Parliament, will also participate in this working session.
The ministers and governors will then review the ongoing progress with regard to harmonising supervisory practices in the aim of identifying common policies.
On 13 September a general debate on using lower VAT rates for public policy purposes will help to identify some general guidelines for the forthcoming technical work.
The final work session will be devoted to analysing the macroeconomic situation of the European Union and the concerted response needed. The aim is to arrive at a diagnosis and identify the appropriate structural and macroeconomic policies for the most effective response to the economic slowdown that Europe is experiencing. The possible contribution that the European Investment Bank (EIB) could make, in particular with regard to small and medium-sized enterprises (SMEs), will also be discussed.
- Updated: 08.12.2008
