Tánaiste and Minister for Finance Simon Harris attends the February Eurogroup and ECOFIN meetings
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From: Department of Finance
- Published on: 16 February 2026
- Last updated on: 16 February 2026
Tánaiste Simon Harris is in Brussels today where Finance Ministers will assess the economic and financial impact of Russia’s aggression against Ukraine.
Ahead of the four year anniversary of the war, the Tánaiste will call for the “swift adoption” of the 20th package of sanctions against Russia.
The agenda over two days also includes a discussion on strengthening the role of the euro within the wider financial system.
The Tánaiste will reference Ireland’s introduction of the landmark Auto-Enrolment Pensions Scheme during a discussion about how pensions can strengthen the Savings and Investment Union.
Speaking ahead of the meetings, the Tánaiste said:
“This month’s Eurogroup and Ecofin meetings are an important opportunity to consider the economic and financial impact of Russia’s illegal invasion of Ukraine.
“Next week will mark the 4th anniversary of this war and I look forward to joining with fellow Finance Ministers in pressing for the swift adoption of the 20th package of sanctions.”
In relation to Monday’s Eurogroup meeting, The Tánaiste said:
“Eurogroup on Monday features two very topical issues, first beginning with a discussion on the strengthening the role of the euro in the global financial system.
“This is critically important to ensure European monetary sovereignty in the international financial system. We will then be joined by Minister of Finance of Canada, François-Philippe Champagne and Professor Hélène Rey for a discussion on global macro-economic imbalances, a matter of increasing concern which is being discussed at the IMF, G7 and G20.
Commenting on ECOFIN, the Tánaiste continued:
“At ECOFIN, we will discuss the proposals from the Commission on how pensions can help to strengthen the Savings and Investment Union. Ireland has also been a strong supporter of the Savings and Investment Union and I look forward to progressing these files. Pensions are a key aspect of developing European capital markets and Ireland is to the forefront of this area through the introduction of our auto-enrolment scheme.
Following this, we will endorse two recommendations on the EU Budget and consider the economic and financial impact of Russia’s aggression against Ukraine. Finally, we will adopt a recommendation allowing Austria to activate the national escape clause and the Commission will present the state of play on the implementation of the SAFE Regulation.”
Note to the Editor
Eurogroup starts on Monday afternoon where Ministers will agree to the Euro Area Recommendation for 2026 before turning to a discussion on the International Role of the Euro and promoting European monetary sovereignty. Moving into inclusive format, Ministers will be joined by the Minister of Finance of Canada, François-Philippe Champagne, and engage in an in-depth discussion on global imbalances in the context of geo-economic risks. Professor Hélène Rey, who chairs the G7 independent academic expert group on global imbalances, will be invited to introduce the topic. Monday will conclude with a dinner in Eurogroup inclusive format with Kenneth Rogoff, Professor of Economics and Maurits C. Boas Chair of International Economics at Harvard University.
At ECOFIN on Tuesday morning, the working breakfast will focus on the regular updates on the economic situation, a debrief from the previous day’s Eurogroup meetings and the European Investment Bank’s Annual Investment Report. Moving into regular format, Ministers will discuss the supplementary pensions package published by the Commission under the Savings and Investment Union banner. This will be followed by an update from the Cyprus Presidency on current financial services legislative proposals.
Under non-legislative activities, ECOFIN will first adopt a recommendation to be forwarded to the European Parliament, on the discharge to be given to the Commission for the implementation of the EU general budget for 2024. Ministers will then approve Conclusions on the EU budget guidelines for 2027 before exchanging views on the economic and financial impact of Russia’s aggression against Ukraine. Ministers will adopt the amended Recovery and Resilience Plan of Lithuania and approve the Council Recommendation on the economic policy of the euro area under the European Semester. ECOFIN will conclude with the adoption of the Council Recommendation activating the National Escape Clause in relation to defence expenditure for Austria, while the Commission will also present the state of play of the implementation of the SAFE Regulation.