Informal reunion of the EU Finance ministers, 5-6 April, Bucharest

EU Finance Ministers are to have an informal meeting on 5-6 April at the Palace of Parliament in Bucharest. Meeting takes place in the context of Romania’s EU Council Presidency.

Event will start with Eurogroup (EG) and Eurogroup+ (EG+) meetings, scheduled for 9:00, respectively 10:30, on Friday morning, April 5.

EG+ meeting will cover two subjects: features of the budgetary instrument for convergence and competitiveness – focus on governance aspects and the roadmap for beginning political discussions on EDIS.

Later in the day, EU Finance Ministers, joined by Governors of Central Banks from EU Member States, will tackle topics like priorities for the next institutional cycle and the way forward for the Capital Markets Union. As a innovative Presidency, Romania decided to invite three representatives of European social partners at the debate.

Agenda of the second day of the Informal ECOFIN, Saturday 6 April covers topics from workforce mobility in the EU and taxation issues to common EU positions for the Washington G20 and International Monetary Fund (IMF) meetings.

Agenda

Multi-annual Financial Framework

Ministers will discuss elements of Multi-annual Financial Framework (MFF) which are of interest for ECOFIN, like connection with European Semester and financing of EU budget, based on a note of the Presidency including a series of questions that will lead the discussion.

Priorities for the following institutional cycle

Based on a study elaborated by Bruegel, on a note of the Presidency and on a note of the Economic and Financial Committee, ministers and governors of Central Banks will discuss priorities of the following institutional cycle. Role of this orientation debate is to reach consensus on steps to be taken to ensure inclusive growth and the needs of convergence of the European Union.

Capital Markets Union – way forward

Ministers and governors of Central Banks will discuss benefits and additional challenges in a more and more digitalized and ever greener economic environment, based on a Note of the Romania’s EU Council Presidency on the way to follow with regard to Capital Markets Union and on significant progress registered in view of reaching objectives of the Capital Markets Union (CPU).

Workforce mobility in the EU: A challenge for public finance?

The impact of workforce mobility on eroding of tax base in the country of origin is a fundamental challenge for the Member States, which might affect public finance health. Since labor force mobility in the EU has significantly increased in the last decade, ministers will discuss about the challenges of this phenomenon in their countries of origin and will attempt to approach the issue of the impact the flow of workers has on public finance. Center for European Political Studies (CEPS) will present a material on this topic.

Role of taxation in supporting economic growth

- Bruegel Study discusses about priorities of the EU and emphasizes the role of fighting tax evasion, as well as the need for a correct distribution of tax liabilities;

- CEPS study on worker mobility emphasizes the issues related to labor taxation;

- Preparation of G20 and of meeting of the International Monetary Fund;

- Ministers will be invited to approve the Terms of Reference for the G20 Meeting and the declaration to the International Monetary and Financial Committee (IMFC).

Source:Romania2019.eu