Economic and Financial Affairs Council, 3062nd meeting: extracts from the press conference by György Matolcsy, Hungarian Minister for Economy, Olli Rehn and Michel Barnier
On 18/01/2011 in Brussels, György Matolcsy, Hungarian Minister for Economy, chaired the 3062nd meeting of the Economic and Financial Affairs Council, in the presence of Olli Rehn, Member of the EC in charge of Economic and Monetary Affairs, and Michel Barnier. Member of the EC in charge of Internal Market and Services. They gave a joint press conference after the meeting.
The Council kicked off the 2011 "European Semester", examining the Commission's annual growth survey, and drawing lessons from an assessment of the Member States' draft national reform programmes. The "European Semester" was implemented for the first time this year as part of a reform of EU economic governance; it was aimed at ensuring better-coordinated and more effective policies for putting Europe's economy on a path to sustainable growth.
The Council also discussed the follow-up to the December European Council as regards the strengthening of EU economic governance, and the establishment of a new mechanism to ensure the stability of the euro area.
Economic governance was cited as a key priority by the Hungarian presidency, which presented its work programme to the Council. The presidency stated its goal of reaching agreement on six legislative proposals on economic governance by the end of March.