Brussels, Belgium. Finance Minister Makis Keravnos on Tuesday presented the programme of the Cyprus Presidency of the European Union Council during the first meeting of EU finance ministers under Cyprus’ term. He said the presidency’s slogan is “A self-reliant union open to the world.”
Presidency priorities and context
Keravnos said the presidency is taking over at a time of international geopolitical realignments and uncertainty, with the European Union facing multiple challenges. He said that in economic and financial affairs, strengthening the European Union’s economic autonomy and reinforcing its economic position will be core principles for the next six months.
Role of ECOFIN
Keravnos underlined ECOFIN’s role in decision-making, saying the Council can reach concrete proposals and decisions within the political direction set by EU leaders.
Financial legislation agenda
The presidency intends to advance legislative work on the Savings and Investments Union, while ensuring sufficient progress on the Capital Markets Union agenda aimed at boosting competitiveness and deepening banking sector integration.
Tax and customs initiatives
In taxation, Keravnos said the presidency will promote the EU programme for simplifying tax legislation as part of broader efforts to strengthen competitiveness. He said Cyprus will also seek to push forward legislative work towards a modernised Customs Union.
What developments will you be watching from Cyprus’ EU Council presidency over the next six months?
