Meeting on 9 October, euro area finance ministers discussed the possible future roles and tasks of the European Stability Mechanism (ESM) in the context of the broader ongoing debate on the future of the Economic and Monetary Union. This initial discussion focused on the ESM’s possible role in crisis management and in relation to the banking union, as well as on how this possible new role would affect its governance structure and its place within the EMU setup. Ministers also exchanged views on and shared national best practices in financing labour tax cuts. The tax wedge on labour in the euro area is among the highest in the world and reducing it could contribute to economic growth and job creation. At a meeting on 10 October, EU finance ministers adopted a directive introducing a new system for resolving double taxation disputes between Member States that arise from the interpretation of agreements on the elimination of double taxation. They also took stock of the 2017 European Semester policy monitoring process with a view to making the exercise smoother and more effective.