During a meeting of the Eurogroup in inclusive format on 11 February, EU finance ministers discussed deepening EMU, particularly how to move forward on the budgetary instrument for convergence and competitiveness for the euro area and ERM II Member States on a voluntary basis. Earlier in the day, euro area finance ministers reviewed the main findings of recent post-programme surveillance missions to Ireland and Portugal. They also discussed the economic situation and outlook for the euro area, on the basis of the Commission's Winter Forecast, and gave their support to the ECB Executive Board candidacy of Philip Lane, Ireland's Central Bank governor. During a meeting of the Economic and Financial Affairs Council on 12 February, EU finance ministers agreed on the general approach to a review of the functioning of the current European system of financial supervision, thus clearing the way for negotiations with the European Parliament to begin. Ministers also exchanged views on a Commission proposal to transition from unanimity voting to qualified majority voting (QMV) and use of the "ordinary legislative procedure" (OLP) in certain areas of shared EU taxation policy. The Council also recommended that the European Council nominate Philip Lane as a new member of the ECB executive board, adopted conclusions on the Commission's latest fiscal sustainability report, and adopted guidelines for the 2020 EU budget.

https://www.consilium.europa.eu/en/meetings/eurogroup/2019/02/11/