Meeting on 24 May, euro area finance ministers were informed about the staff-level agreement concluded by the institutions and the Greek authorities on 19 May and the Commission presented to them 54its 2018 spring forecast, which was published on 3 May. The Eurogroup also held a follow-up discussion on spending reviews. These help governments detect areas where savings and efficiency gains could be made and where spending could bring greater value for money. Finance ministers from 27 EU Member States exchanged views on the completion of the banking union and the future role of the ESM in preparation for the upcoming leaders' meeting in June. Meeting in Council format on 25 May, EU finance ministers agreed on proposals to reduce risk in the banking industry by strengthening rules on capital requirements and on bank recovery and resolution. The proposals are intended to implement reforms agreed at the international level following the 2007-08 financial crisis. The Council also adopted rules aimed at boosting transparency to prevent aggressive cross-border tax planning.