Informal meeting of EU Finance Ministers in Bucharest

Romania has a very well-established plan to switch to Euro, and goal remains clear for 2024, Finance Minister Eugen Teodorovici said in Bucharest in preamble of Eurogroup meeting and informal meeting of EU Finance Ministers (ECOFIN).

Informal meeting of EU Finance Ministers, organized under Romania’s EU Council Presidency, started with a working lunch when new financing options for the European budget and links between Multiannual Financial Framework (MFF) and the European semester were discussed. During first working session, Ministers focused on priorities for the future institutional cycle - said Minister of Finance Eugen Teodorovici, ECOFIN Council President.

Minister Teodorovici: Based on two important contributions - a Bruegel document and one of the Economic and Financial Committee – talks focused on several priorities: innovation, climate change, improving social cohesion, convergence within the European Union, including strengthening relations between Euro countries and the other EU Member States, increasing economic resilience by stimulating investment, implementing structural reforms.

RRAReporter: Eugen Teodorovici pointed out that for the first time, ECOFIN works were also attended by representatives of social partners. Another important topic was architecture of Capital Markets Union, when Vice-President of European Commission, Valdis Dombrovskis, underlined the idea that 11 of the 13 proposals on this subject were adopted under the current mandate.

EU Commissioner Valdis Dombrovskis: Capital markets play a vital role in transition to a neutral economy towards the environment. European Commission has a strategy to build such savings by 2050 and for this reason we must keep the subject of sustainable funding at the top of our agenda, because there can be no transition without adequate funding.

RRA Reporter: Other topics included support for innovation and destructive companies developing the most advanced technologies, but also the idea of modernizing the European tax system, including fight against ways to avoid paying taxes.

Source:RRA.Translated by Miruna Matei