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Eurogroup and ECOFIN ministers meetings of 6 and 7 July

Among other points, Ministers discussed the economic situation and market developments and the Swedish Presidency work programme.

Updated 7 July 2009.

EUROGROUP

Eurogroup ministers met at 17.00 hrs on Monday 6 July in Brussels. Joaquín Almunia, Commissioner responsible for Economic and Monetary Affairs and European Central Bank Governor Jean-Claude Trichet attended the meeting as well.

Agenda

Eurogroup Ministers discussed the economic situation and the effect that the crisis would have on potential growth. Euro area GDP is forecast to fall by 4% in 2009 and recover to only +0.1% in 2010, according to the Commission's spring forecasts.
Ministers discussed the outlook for price developments in the euro area and  followed up to its budgetary discussions in Prague. They also discussed the Commission's opinions on the Stability Programmes of euro area members Austria, Belgium, Slovakia and Slovenia and the excessive deficit procedure for Malta.

ECOFIN

The Council of Economics and Finance Ministers started at 9.45 hrs on Tuesday 7 July. The ECOFIN meeting was attended by Commissioner for Economic and Monetary Affairs Joaquín Almunia and Internal Market and Financial Services Commissioner Charlie McCreevy.

>> Detailed Eurogroup and ECOFIN agenda Choose translations of the previous link 
>> Council conclusions

Agenda

      • Economic situation and market developments
      • Swedish Presidency Work Programme
      • Follow-up of the European Council of 18-19 June
      • Preparation for the G-20 meetings
      • Procyclicality
      • Implementation of the Stability and Growth Pact
      • Medium-term Budgetary Objectives (MTOs) and implicit liabilities
Immediately after the regular ECOFIN, Finance Ministers from the EU and from partner countries in the Mediterranean gathered for the second Euro-Mediterranean Finance Ministerial in the format of Union for the Mediterranean (UfM) launched in 2008.