Sun. Jun 26th, 2022

Luxembourg, 16 June 2022

Regular format

Euro area enlargement – Croatia

Ministers discussed the euro introduction by Croatia, on the basis of the convergence reports by the Commission and the ECB. They decided to recommend that Croatia become the 20th member of the euro area.

This is a very well-deserved achievement for Croatia, and it is a recognition by Eurogroup and the institutions of the European Union of the commitment and the extraordinary work of Prime Minister Plenković, Minister Marić and all of our colleagues in the government of Croatia fulfilling all of the steps that are needed to join our shared currency. It demonstrates that the euro, which this year marks its 20th anniversary as a physical currency, is a union that is growing and that will become stronger by growing. It is first and foremost a symbol of how we use our integration and our interdependence as a source of strength. And the decision by the Eurogroup to welcome Croatia into that family and the determination of Croatia to join our group is a sign of that resilience.

Paschal Donohoe, President of the Eurogroup

Greece – end of enhanced surveillance

The Eurogroup discussed the fourteenth enhanced surveillance report on Greece. The Eurogroup welcomed the assessment by European institutions that the necessary conditions are in place to confirm the release of the seventh tranche of policy-contingent debt measures, worth € 748 million. The Eurogroup issued a statement, which among other things, welcomes the European Commission’s intention not to prolong enhanced surveillance after its expiration on 20 August 2022, given the successful delivery of the bulk of Greece’s policy commitments.

Given the progress that has been made by Minister Staikouras, the Greek government and the Greek people, we welcomed today the intention of the European Commission not to prolong the enhanced surveillance of the Greek economy after the expiry of the programme at the end of August. This is a very significant achievement. It was recognised as a landmark moment by the Eurogroup upon the presentation of progress by Minister Staikouras.

Paschal Donohoe, President of the Eurogroup

Post-Programme Surveillance of Portugal, Cyprus, Spain and Ireland

The Eurogroup was briefed by the European Commission and the ECB on the main findings of the post-programme surveillance reports on Cyprus, Portugal, Ireland and Spain.

 

Eurogroup work programme for II/2022

The Eurogroup adopted its Work programme for the second half of 2022, covering the period from July until December.

 

Priorities of new Slovenian Government

The Slovenian Minister presented the policy priorities of the new Slovenian government. This is standard practice in the Eurogroup when new governments take office.

 

ECB debrief on the latest decisions of the Governing Council

The ECB briefed Ministers on the latest monetary policy decisions of the Governing Council.

 

Inclusive format

Banking Union

Ministers discussed the developments concerning the Banking Union, and adopted a statement on the future of the Banking Union.

We agreed a plan today for very concrete actions that will further strengthen our Banking Union. We agreed that we will strengthen the common framework for bank crisis management and also for the rules governing the use of national deposit guarantee funds. The Commission will bring forward a proposal with regard to that. The Eurogroup made a political commitment to turn that progress into reality.

Paschal Donohoe, President of the Eurogroup

 

Preparation of the June Euro Summit

As foreseen in the Treaty on Stability, Coordination and Governance (TSCG), the Eurogroup in inclusive format prepared the Euro Summit that is planned to take place on 24 June 2022.

 

Meeting information