Eurogroup and ECOFIN ministers meetings of 4 and 5 May

5 May 2009.

EUROGROUP

Eurogroup ministers met at 17:00 hrs on Monday 4 May. Joaquín Almunia, Commissioner responsible for Economic and Monetary Affairs will attend as will European Central Bank Governor Jean-Claude Trichet.

Agenda

Ministers discussed the economic situation and financial market developments, on the basis of the Spring forecasts.

ECOFIN

The Council of Economics and Finance Ministers started at 10.00 hrs on 5 May.  The ECOFIN meeting was  attended by Commissioner Joaquín Almunia, Internal Market and Services Commissioner Charlie McCreevy and Taxation and Customs Union Commissioner Laszlo Kovacs.  

The Council approved an increase to € 50 billion of the lending ceiling for the EU support facility for non-euro area Member States in financial difficulty. Among other points, Ministers also discussed the quality of public finances in relation to age-related expenditures projections and the economic situation and financial market developments on the basis of the spring forecasts.
>> Detailed Eurogroup and ECOFIN agenda  
>> Council conclusions

Agenda

• Ministerial dialogue with candidate countries
• Current economic and financial situation
• Medium-term financial assistance for MS's balances of payments
• Quality and sustainability of public finances
• Five years of an enlarged EU
• Preparation of the Employment Summit
• Dialogue with third countries
• Taxation - reduced VAT rates, good governance, tobacco taxation
• EU Budget - Preliminary draft budget for 2010
• Financial Services regulation - credit rating agencies, cross-border payments in Euro, Solvency II, - E-money