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Eurogroup reviews euro area macro-economic situation, recovery & resilience plans, and work programme for 2022, among other topics

Meeting on 4 October, euro area finance ministers exchanged views on the macro-economic situation in the euro area.

Paolo Gentiloni, Valdis Dombrovskis are talking at the Eurogroup meeting on 4 October, 2021, ©European Union
European Union

date:  14/10/2021

See alsoEurogroup, 4 October 2021: Main results,...

The director of the EU Agency for the Coordination of Energy Regulators (ACER), Christian Zinglersen, updated the Eurogroup on recent energy price developments. Ahead of the upcoming annual meetings of the World Bank Group and the International Monetary Fund, ministers also reviewed exchange rate developments over the past months. The Eurogroup took stock of the implementation of euro area priorities in the recovery and resilience plans based on a presentation by the European Commission. Ministers also exchanged views on the 2022 programme of the Eurogroup thematic discussions on growth and jobs, and discussed the 11th enhanced surveillance report on Greece. The report is not linked to a decision on policy-contingent debt measures. Regarding banking union, the chair of the European Central Bank (ECB) Supervisory Board, Andrea Enria, informed the Eurogroup about the supervisory tasks carried out under ECB banking supervision, focusing on the impact of the COVID-19 pandemic on credit risk, emerging risks that warrant supervisory action, the structural transformation of the European banking sector, and the adjustment of business models due to digitisation and climate risk. Lastly, the chair of the Single Resolution Board (SRB), Elke König, updated the Eurogroup on recent activities undertaken by the SRB, focusing on priorities such as banks' resolvability, the minimum requirements for own funds and eligible liabilities (MREL), preparation for the implementation phase of the common backstop, and the recent rulings of the European Court of Justice affecting the SRB.