Finance ministers reappointed Luxembourg Prime Minister Jean-Claude Juncker as head of the Eurogroup for 2.5 years.
Eurogroup ministers met at 17.00 hrs on Monday, 18 January in Brussels. Joaquín Almunia, Commissioner responsible for Economic and Monetary Affairs, and European Central Bank President Jean-Claude Trichet attended as well.
Following the entry into force of the Lisbon Treaty of 1 December 2009, ministers appointed Mr. Jean-Claude Juncker as Eurogroup President for a 2.5 years term. The Treaty formalises the Eurogroup with a president to be elected for 2.5 years instead of two years, as was previously the case.
Among other points, ministers discussed the evolution of the economy and of financial markets since their last meeting of 1 and 2 December 2009. Ministers also discussed surveillance of competitiveness developments and imbalances in the euro area. Furthermore, ministers discussed the euro area contribution to the G20 framework for strong, sustainable and balanced growth and exchanged views on the economic, financial and fiscal situation in Greece.
The Council of Economics and Finance Ministers met on 19 January. The Council adopted conclusions on government deficit and debt statistics in Greece and urged the Greek government to tackle outstanding problems. The European Commission will propose measures to bring the Greek statistical system into line with EU requirements and will develop an action plan by February to that purpose.
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