The Minister for Public Expenditure, NDP Delivery, and Reform Paschal Donohoe, T.D., is in Brussels today, Friday 27th October, to participate in the Euro Summit meeting of EU Heads of State and Government in his capacity as President of the Eurogroup.
Minister Donohoe will give an overview on the economic and financial situation in the euro area and the ongoing coordination of budgetary policies among euro zone countries. He will report to EU leaders on the work the Eurogroup has undertaken to identify measures necessary to take forward the Capital Markets Union and ensure that European capital and financial markets can renew and enhance private sector investment. This work is crucial in order to address the needs related to the green and digital transitions. The Minister will also give an update on progress towards completing the Banking Union, including the finalisation of the reform of the European Stability Mechanism (ESM), as well as on the Eurogroup work on the digital euro project.
Speaking ahead of the Euro Summit, Minister Donohoe commented:
“The euro area economy has shown remarkable resilience in an economic context which is challenging. I look forward to engaging with EU leaders on the work of the Eurogroup and our priorities in terms of economic policy coordination. I will update on the progress we have made in identifying ways of strengthening European capital markets. This work is vital for how we can enhance our ability to invest in a better future for our citizens and ensure availability of more private funding for EU companies to innovate, be competitive and have the capacity to invest in the twin transitions.”
ENDS