Fri. May 20th, 2022

Regular format

Euro area fiscal policy coordination for 2023

Ministers discussed fiscal policy coordination for 2023, with a view to safeguarding the economic recovery in the euro area. The Eurogroup issued a statement.

The Eurogroup also took stock of the economic situation arising from Russia’s military aggression against Ukraine and other key macroeconomic developments having influence on budgetary planning for 2023.

Given uncertainties and risks, we need to remain agile and flexible in our policy response. The Eurogroup will work closely with the Commission in the coming weeks and months to do this. We reiterated our agreement to maintain a supportive fiscal stance for this year. Looking ahead, we concurred that the economic recovery will set the stage for a gradual evolution in fiscal policy, leading to a broadly neutral overall fiscal stance in 2023 for the euro area. We stand ready to adjust our policies if economic developments require us to do so.

Paschal Donohoe, President of the Eurogroup

 

Greece – 13th enhanced surveillance report

The Eurogroup discussed the thirteenth enhanced surveillance report on Greece. The enhanced surveillance framework for Greece was activated by the Commission on 11 July 2018, and entered into force in August 2018.

The quarterly enhanced surveillance reports enable close monitoring of the economic, fiscal and financial situation and the post-programme policy commitments, as agreed by the June 2018 Eurogroup.

“We very much welcome the progress made by the Greek authorities despite the challenges posed by the pandemic.” – Paschal Donohoe, President of the Eurogroup

 

Inclusive format

Banking Union – state of play

Ministers discussed the way forward to agree on a work plan for all outstanding elements of the Banking Union, ahead of the March Euro Summit.

“Our discussions got into the substance of a work plan that our leaders have asked us to deliver. I put forward a phased approach with four work streams and I am happy to report that overall my colleagues confirmed that this approach is a credible basis for further discussions.” – Paschal Donohoe, President of the Eurogroup

 

Preparation of the March Euro Summit

The Eurogroup prepared the Euro Summit that will take place on 24-25 March 2022.

Meeting information
  • Brussels
  • 14 March 2022
  • 13:30
Preparatory documents
Outcome documents
Press releases