Press release
Minister Donohoe in Brussels to chair November Eurogroup meeting
From Department of Public Expenditure, NDP Delivery and Reform
Published on
Last updated on
From Department of Public Expenditure, NDP Delivery and Reform
Published on
Last updated on
President of the Eurogroup and Minister for Public Expenditure, NDP Delivery and Reform, Paschal Donohoe, is in Brussels today (Monday, 4 November 2024) where he will chair the November Eurogroup meeting.
The Eurogroup will take stock of the latest macroeconomic developments and outlook, including inflation developments, and hear back from the discussions at the IMF/World Bank Annual Meetings in Washington the week before last.
Ministers will then hear from the Chairs of the Single Supervisory Mechanism (SSM) and the Single Resolution Board (SRB) as part of their twice-yearly reporting. Ministers will discuss the euro area banking system, the main challenges ahead and what remains to be done to bolster the resilience of the banking system.
This will be followed by a discussion on the competitiveness of the European economy, with a view to adopting a formal statement that reflects the discussions that have taken place over the past year among finance ministers on how to enhance Europe’s productivity, innovation and investment.
As a follow up to the March Eurogroup statement on the future of the Capital Markets Union, Ministers will exchange views on the extensive work under way to share best practices and national initiatives on a number of initiatives contained in the statement. Ministers will also discuss ways to maintain momentum and take stock of the performance of European capital markets, as well as monitor progress on EU and national measures.
Ahead of the meeting Minister Donohoe said:
“I look forward to our November Eurogroup meeting, where we intend to conclude an important phase of discussions among European finance ministers on how to enhance the competitiveness of the euro area. As today marks the 10-year anniversary of the Single Supervisory Mechanism, our pan-European banking supervisor, it is timely that we will have the opportunity to hear from Chair Claudia Buch, as well as from Chair Laboureix from the Single Resolution Board, to reflect on all that has been achieved so far. Following up on our Eurogroup statement on the future of the Capital Markets Union, I look forward to hearing about the extensive work under way to take this work forward and make tangible progress in deepening capital markets in Europe so that people have more opportunities to make their savings and investments work for them.”
While in Brussels, Minister Donohoe will also attend the Macroeconomic Dialogue at political level (MEDPOL) to discuss the economic situation and outlook, as well as demographic challenges and their impact on competitiveness. He will also have a bilateral meeting with the Lithuanian Minister of Finance, Gintarė Skaistė.