Brussels, Belgium. Finance ministers approved revised recovery and resilience plans for eight countries and Hungary’s new €10 billion plan at the Ecofin meeting on Friday. During the council, Cyprus backed the Irish EU presidency’s aim of securing a negotiating mandate in October on the market integration and supervision package.
Recovery plans approved
The revised recovery and resilience plans for Cyprus, Lithuania, Finland, Luxembourg, Germany, Latvia, Slovenia and the Netherlands were approved at the meeting in Brussels. Hungary’s new €10 billion plan was also approved.
Cyprus position at Ecofin
Speaking at the first Ecofin meeting under the Irish presidency, Finance Minister Makis Keravnos said the significant progress achieved during Cyprus’ EU presidency provided a strong basis for continuing the negotiations.
Keravnos said Cyprus agreed with the paper tabled by the Irish presidency, which places particular emphasis on asset management, financial innovation, the supervisory framework and the governance of the European Securities and Markets Authority.
Irish presidency priorities
Presenting the Irish presidency priorities, Tánaiste and Minister for Finance Simon Harris said the presidency would focus on competitiveness, security and values. He recalled that the presidency’s motto draws on an old Irish proverb meaning “there can be no strength without unity”.