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ECOFIN ministers discuss financial market crisis

Eurogroup and ECOFIN ministers met on 6 and 7 October. Ministers discussed the economic situation with particular attention to the financial market crisis.

Article updated on 7 October 2008


Eurogroup ministers met at 17:00 hrs on Monday, 6 October. Joaquín Almunia, Commissioner responsible for Economic and Monetary Affairs, and European Central Bank Governor Jean-Claude Trichet attended the meeting. A press conference took place after the meeting.
>> See the Council conclusions
>> Council conclusions on a coordinated EU response to the economic slowdownpdf


  • discussion on the economic situation, with particular attention to the financial market crisis
  • resume discussion on the conclusions contained in the Commission's EMU@10 report with a particulalr emphasis on the external dimension and governance of the euro area


The Council of Economics and Finance Ministers formally started at 10.00 hrs on Tuesday 7 October. The working breakfast started at 08:30. The ECOFIN meeting was attended by Commissioner Joaquín Almunia, Internal Market and Services Commissioner Charlie McCreevy and Taxation and Customs Union Laszlo Kovacs.   A press conference took place after the meeting.


  • preparation of annual IMF meetings of 11 - 13 October
  • exchange of views on executive pay
  • preparation of the European Council of 15-16 October
  • oil market developments and policy responses
  • financial services  - revision of EU insurance law, financial stability and supervision
  • fiscality - combating VAT fraud, guidelines for the creation of a decentralised network for exchanging  tax information (EUROFISC), continued  discussion on effectiveness of lower VAT rates  

For more information, please read the MEMO/08/605 Choose translations of the previous link