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Finance ministers discuss common backstop to Single Resolution Fund and implications on financial stability of increasing interest rates

Meeting on 7 September, euro area finance ministers exchanged views with Roberto Gualtieri, Chair of the European Parliament's Committee on Economic and Monetary Affairs, on the euro area's economic outlook and challenges.

Eurogroup meeting, EU Finance ministers of the eurozone meet on 7 September 2018, © European Union, 2018

date:  13/09/2018

See alsoEurogroup, 07/09/2018

Meeting on 7 September, euro area finance ministers exchanged views with Roberto Gualtieri, Chair of the European Parliament's Committee on Economic and Monetary Affairs, on the euro area's economic outlook and challenges. They also discussed euro area Member States’ ability to allocate resources efficiently in labour and product markets, and heard a presentation by Christopher Antoniou Pissarides, Professor of Economics at the London School of Economics and Nobel Prize laureate, about the impact of artificial intelligence and automation on labour markets. The Eurogroup was also briefed on the key findings of the 8th post-programme monitoring mission to Portugal. EU finance ministers discussed issues related to the common backstop to the Single Resolution Fund (SRF), as well as the implications on financial stability of increasing interest rates. They exchanged views on crypto-assets, particularly initial coin offerings, which they believe have the potential to emerge as a viable form of alternative financing, provided they can be properly regulated. Ministers discussed InvestEU, which builds on the success of the European Fund for Strategic Investment and aims to leverage EUR 650 billion in investment. They also discussed how to support structural reforms in Member States, the fiscal stabilisation function for the euro area and taxation of the digital economy.