Nicosia, Cyprus. Finance ministers from across the European Union are gathering in Nicosia on Friday and Saturday for an informal meeting of the Economic and Financial Affairs Council (Ecofin) under Cyprus’ presidency of the Council of the EU. The meeting will focus on economic competitiveness, investment needs and financial stability amid growing geopolitical uncertainty.
Agenda and opening session
The meeting is chaired by Finance Minister Makis Keravnos. According to the Cyprus presidency, Friday’s proceedings will begin at 12.15pm with a working lunch centred on strengthening the EU’s competitiveness in an increasingly uncertain global environment.
Ministers are expected to exchange views on the urgent need to boost the EU economy’s competitiveness, based on a discussion paper prepared by the Cyprus presidency. Contributions will also be made by European Stability Mechanism managing director Pierre Gramegna and economist Andreas Theophanous.
Topics on Friday: economy, housing, digital euro
Discussions will cover specific measures that could be taken at European level to improve the bloc’s economic performance.
Other agenda items include recent macroeconomic developments, housing competitiveness, and progress towards the adoption of the digital euro, with the participation of Aurore Lalucq, chair of the European Parliament’s economic and monetary affairs committee.
Stablecoins session and Eurogroup meeting
Friday’s talks will conclude at 4pm with a joint session of finance ministers and central bank governors focusing on stablecoins, their characteristics and their role in the economy. The discussion will be informed by a Cyprus presidency paper and a presentation by Jeromin Zettelmeyer, director of Brussels-based think tank Bruegel.
Cyprus will also host a meeting of the Eurogroup on Friday, chaired by Eurogroup president Kyriakos Pierrakakis.
Saturday: investment needs and fiscal sustainability
Saturday’s sessions will begin at 9.30am, with ministers set to discuss how the EU can meet rising investment demands without undermining long-term fiscal sustainability. The discussion will be supported by presentations from Oya Celasun and Tony Murphy.
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