Tánaiste and Minister for Finance Simon Harris attends the March Eurogroup and ECOFIN meetings
- Foilsithe:
- An t-eolas is déanaí:
Tánaiste Simon Harris is in Brussels today (Monday) where Finance Ministers will discuss the impact of energy prices as a result of the war in the Middle East.
Ministers are also expected to formally adopt Ireland’s Medium Term Fiscal-Structural Plan, which sets out our fiscal strategy over the next five years.
The push for further sanctions against Russia and the Market Integration and Supervision Package will also be discussed over the two-day meeting.
Speaking today, An Tánaiste said:
“Given the current ongoing geopolitical tensions and recent developments in the Middle East, I look forward to actively discussing the impact on energy prices in the euro area with my fellow Finance Minsters at Eurogroup. This issue has been an ongoing challenge for European industry in recent years.”
In relation to ECOFIN and the adoption of the Irish Medium-Term Fiscal and Structural Plan, An Tánaiste said:
“At ECOFIN, I will present Ireland’s Medium-Term Fiscal and Structural Plan to my colleagues. The adoption of this plan underlines the strong economic and fiscal position of Ireland and provides both fiscal and policy certainty in what is an increasingly uncertain world.
“I also look forward to engaging with colleagues on the Market Integration and Supervision Package which is a key initiative at EU level to lay the foundations for a Savings and Investment Union. In line with my own domestic initiative, the aim of this package is to put private savings to productive use which will help deliver prosperity and financial resilience for citizens of Ireland and the wider EU.
Following these items, we will discuss the economic and financial impact of Russia’s aggression against Ukraine, exchange views on the main messages that should be conveyed by the EU at the IMF and G20 Spring Meetings and approve an amendment to the Recovery and Resilience Plan of Estonia.”
Note to the Editor
Eurogroup starts on Monday afternoon with eurozone Ministers engaging in a discussion on macroeconomic developments in the euro area before assessing the draft budgetary plan of Belgium for 2026. In inclusive format, the Eurogroup will have their first discussion under the Digital Finance Workstream. Energy prices and their impact on the euro area economy will also feature on the agenda along with an update from the President of the Eurogroup on preparations for the March Euro Summit. Eurogroup will conclude with a debrief from the Spanish Minister on the Competitiveness Lab initiative.
At ECOFIN on Tuesday morning, the working breakfast will focus on the regular updates on the economic situation and a debrief from the previous day’s Eurogroup meetings. In regular format Ministers will exchange views on the Market Integration and Supervision Package, a key legislative element of the EU’s efforts to develop the Savings and Investment Union. This will be followed by an update from the Cyprus Presidency on current financial services legislative proposals and under non-legislative activities the Commission will update on the status of financial services legislation.
ECOFIN will adopt the Irish Medium-Term Fiscal-Structural Pan, engage in the regular stocktaking of the economic and financial impact of Russia’s aggression against Ukraine and prepare for the G20 Finance Ministers and Central Bank Governors meeting and the IMF Spring meetings. ECOFIN will conclude with the adoption of the amended Recovery and Resilience Plan of Estonia.