Greek Minister of National Economy and Finance, Kyriakos Pierrakakis, traveled to Brussels on Sunday to participate in the Eurogroup and ECOFIN meetings scheduled for Monday, May 12, and Tuesday, May 13, respectively.
Τhe agenda of the Eurogroup, will focus on the progress of the European Banking Union. Finance ministers are expected to be briefed on preparations for the upcoming annual meeting of the European Stability Mechanism (ESM), which is set to take place in June.
During the extended session, global economic developments will be reviewed, with a particular emphasis on key outcomes from the recent G7 meetings. Special attention will also be given to the advancement of the digital euro project.
The ECOFIN meeting, slated for Tuesday, will feature discussions on the European Commission’s announcement regarding the Union of Savings and Investments. This initiative aims to bolster competitiveness, simplify processes, and improve the business environment within the European Union.
Finance ministers are set to discuss the financing of European defense and the reinforcement of the continent’s defense industry, with a strong emphasis on the ongoing review of the SAFE Regulation. This regulation aims to promote a unified approach to defense and security within Europe. Additionally, the ECOFIN agenda includes a review of the economic and financial repercussions stemming from Russia’s aggression against Ukraine.
The European Commission will also deliver its customary update on the progress of legislative proposals related to financial services. Key topics include the Directive addressing VAT regulations for remote sales of imported goods and VAT on imports. Furthermore, discussions are expected to cover the approval of the amended Recovery and Resilience Plans for Spain, Slovakia, Portugal, and the Netherlands.
On the margins of the Eurogroup and ECOFIN meetings, Pierrakakis is anticipated to hold discussions with European officials and fellow finance ministers, focusing on bilateral and regional economic issues.
