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
- Eurogroup statement on the fiscal guidance for 2023 (press release, 14 March 2022)
- Economic governance framework (background information)
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
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.
- 14 March 2022
- Draft agenda, Eurogroup
- Draft agenda, Eurogroup in inclusive format
- Draft annotated agenda, Eurogroup
- Draft annotated agenda, Eurogroup in inclusive format
- Remarks by Paschal Donohoe following the Eurogroup meeting of 14 March 2022 – 14 March 2022, 21:23
- Eurogroup statement on the fiscal guidance for 2023 – 14 March 2022, 17:05