Minister Donohoe chairs Eurogroup and attends ECOFIN in Luxembourg

The Minister for Finance and President of the Eurogroup, Paschal Donohoe, T.D., will chair the Eurogroup meeting in Luxembourg today (Thursday) 16 June 2022.

The Eurogroup will discuss the issue of euro area enlargement and will recommend that Croatia introduce the euro as its currency on 1 January 2023. The Eurogroup is also expected to adopt a statement recognising Greece's implementation of policy commitments and paving the way for the end of the country's enhanced economic surveillance.

Ministers will receive a presentation by the ECB President, Christine Lagarde, on the latest monetary decisions adopted by the Governing Council. Finance ministers will take stock of the economic outlook for the euro area.

In inclusive format, Ministers will conclude discussions initiated at the beginning of the year on Banking Union. They are expected to reach consensual agreement on concrete actions to strengthen the existing framework, foster financial stability and make the EU's banking system more competitive on the global stage.

In Luxembourg, Minister Donohoe will also chair the annual meeting of the European Stability Mechanism's board of governors.

Speaking ahead of the meeting, Minister Donohoe stated:

"At this Eurogroup, we will deliver a number of important decisions. 20 years after we started using the euro as our currency, we will set Croatia on a path to become the 20th member of our euro family.

12 years after the start of its first economic adjustment programme, we will pave the way for Greece to exit enhanced surveillance and normalise its economic policy processes within the EU.

7 years after the Commission first came forward with a proposal to complete the banking union, we will reach agreement on a plan for concrete actions to make Europe's banks more robust, and businesses and citizens more confident in our financial system. These decisions are tangible demonstrations of Europe's unity of purpose in action."

Minister Donohoe will also attend the ECOFIN meeting in Luxembourg on Friday 17th June.

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: [external-link https://www.consilium.europa.eu/en/council-eu/eurogroup/president/ | https://www.consilium.europa.eu/en/council-eu/eurogroup/president/ ]