Mission statement 2016-2020
The mission of the Directorate-General for Economic and Financial Affairs (DG ECFIN) is to contribute to raising the economic welfare of citizens in the European Union and beyond by fostering competitive, employment-rich economies.
To this end, the department contributes to the development of policies that are geared towards smart, sustainable and inclusive economic growth while preserving macroeconomic and financial stability, inter alia, by
- implementing necessary structural reforms
- achieving and maintaining sound public finances and an appropriate policy mix
- promoting investment in productive and human capital. The processes aimed at a deeper and fairer Economic and Monetary Union (EMU) and at completing the EMU architecture are central in this endeavour
DG ECFIN focuses its effort on the achievement of two of the Commission's general objectives
- a new boost for jobs, growth and investment
- a deeper and fairer EMU
In order to do so, it has established a strategy consisting of the pursuit of five specific objectives
- promoting growth and employment enhancing policies in the euro area and the EU
- promoting macro-economic and fiscal stability in the euro area and the EU
- promoting investment in the EU
- promoting prosperity beyond the EU
- improving the efficient functioning of the Economic and Monetary Union
These objectives are based upon the three key pillars of the economic strategy of the Commission
- boosting investment
- pursuing structural reforms
- ensuring fiscal responsibility
Simultaneous action in all three areas is critical to restore confidence, reduce the uncertainty that is impeding investment and to maximise the strong mutually reinforcing effects of action on all three pillars. There is also a very strong interlinkage between these three pillars and the objective of a deeper and fairer Economic and Monetary Union which functions efficiently in economic terms.
Moreover, prosperity and stability in the EU are highly dependent upon developments in the international environment, especially stability and prosperity in our neighbourhood. Against this backdrop, DG ECFIN plays an active role in international economic issues, which complements the armoury of instruments at the disposal of the EEAS, DG TRADE, DG NEAR, DG DEVCO and ECHO.