Minister for Finance Michael McGrath travels to Ghent, Belgium to represent Ireland at informal ECOFIN and Eurogroup meetings

On Friday 23rd February, Minister for Finance Michael McGrath travels to Ghent, Belgium to represent Ireland at the bi-annual informal ECOFIN and Eurogroup meetings.

Speaking ahead of the meeting, Minister McGrath stated:

This will be a good opportunity for meaningful discussions with my Ministerial colleagues in a more informal setting which also allows for the cultivation of bi-lateral relationships with other Member States. The informal ECOFIN provides an opportunity for Ministers to participate in a creative exchange of ideas on a number of important topics. We will firstly engage in a working lunch where the future of the European Investment Bank will be discussed. The agenda will then centre on two key working sessions. The first will focus on the deepening of EU Capital Markets with an emphasis on retail investor participation in financial markets and financial literacy. This will be followed by a working session on the Future of EU Competitiveness.

Starting at the Eurogroup on Friday Morning, Minister McGrath will join his euro area colleagues in discussing the Future of European Capital and Financial Markets. This will be followed by an exchange on the overall macroeconomic developments and prospects in the Eurozone.

Following on from Eurogroup, Ministers will engage in a working lunch where the current Chair of the Board of Governors of the EIB, Minister Van Peteghem, will lead a debate on the future of the European Investment Bank Group. The new EIB President, Nadia Calviño will be invited to present her vision on the future of the EU’s public lender and largest multilateral bank.

Ministers will then begin the first of two working sessions where in the context of the deepening of the Capital Markets Union, the Ministers, together with the Central Bank Governors, will discuss the overall financial literacy of EU citizens and how to improve retail participation in financial markets.

The second working session, taking place on Saturday, will focus on the Future of EU Competitiveness where Dr. Mario Draghi will take the opportunity to inform Ministers on the preparation of his report on European competitiveness as well as gathering their input.

Ends