President of the Eurogroup travels to Italy

The Minister for Finance and President of the Eurogroup, Paschal Donohoe, T.D., will travel to Rome on Thursday 11 November for a series of bilateral meetings.

Today (Thursday, 11 November), Minister Donohoe will meet with the Prime Minister of Italy, Mario Draghi, as well as meeting Italy's Finance Minister, Daniele Franco. The visit will also include a meeting with the Mayor of Rome, Roberto Gualtieri.

The focus of the meetings is the economic outlook, which is one of Minister Donohoe's priorities as he coordinates economic and fiscal policies among euro area Finance Ministers. Growth figures for the third quarter show that the euro area has almost returned to pre-pandemic levels of output, which is a recovery ahead of forecast. There are common challenges for the euro area to address, such as the risks posed by higher inflation and energy prices, not least in terms of the consequences for families and businesses.

The Ministers will also discuss the economic governance of the European Union, the next steps in completing Banking Union, and the future of the digital euro. Minister Donohoe stated:

"As we approach the 20th anniversary of sharing our common currency, the euro, I am pleased that the economic recovery is taking hold across the euro area. This positive economic momentum reflects our successful vaccine rollout and the merit of the coordinated European policy response to the crisis. It also reflects that the euro has been a key asset in Europe's response, and a symbol of our collective resilience and strength.

We are now looking to the future as European funds under Next Generation EU are being distributed so as to secure the recovery and support the transitions to tackle climate change and digitalisation."

ENDS

Note to Editor: Minister Donohoe was elected President of the Eurogroup in July 2020. Further information on the Eurogroup Work programme can be found at:

https://www.consilium.europa.eu/en/council-eu/eurogroup/president/