Eurogroup Meeting, Brussels – 26 January 2015

The Eurogroup met in Brussels on the 26 January 2015 with the following discussion items:

+ Lithuania's accession to the eurozone
Ministers discussed Lithuania's adoption of the euro on 1 January 2015. They said that the changeover from the litas to the single currency had been smooth and successful. They also highlighted the country's remarkable recovery from the financial crisis.

Rimantas Šadžius, Lithuania's finance minister, attended the meeting for the first time as a full member.

+ Elections in Greece
The Eurogroup discussed the situation in Greece following the general election on 25 January 2015. Eurogroup President Jeroen Dijsselbloem confirmed that the Eurogroup stood ready to work with the new government.

The Eurogroup intends to discuss the state of play of Greece's economic adjustment programme at its next meeting in February 2015.

+ Review of draft budgetary plans
The Eurogroup welcomed the European Commission conclusion that Latvia's updated draft budget complies with the requirements of the Stability and Growth Pact.

The Eurogroup issued a statement on Latvia's updated draft budgetary plan for 2015.

Ministers had also discussed the follow-up process in respect of draft budgetary plans that were considered to be at risk of non-compliance with the requirements of the Stability and Growth Pact in December 2014. The Commission will present its updated assessment by the end of February.

+ IMF euro area assessment
The International Monetary Fund provided the ministers with its assessment of the economic situation in the euro area.

The Eurogroup also discussed the need for decisive action by the euro area member states to boost growth and jobs and to enhance their economies' potential.

The ministers held a short discussion on the review of governance in the euro area. The discussion was held in preparation for the informal meeting of the EU heads of state or government, which will take place in February 2015 and will discuss the state of play of the Economic and Monetary Union.

ESO: Background information: Lithuania becomes the 19th Member State to adopt the euro http://www.europeansources.info/record/lithuania-becomes-the-19th-member-state-to-adopt-the-euro/

ESO: Background information: SYRIZA heads for historic victory but without majority http://www.europeansources.info/record/syriza-heads-for-historic-victory-but-without-majority/

Eurogroup: Press Release, 26.01.15: Remarks by Jeroen Dijsselbloem at the press conference following the Eurogroup meeting of 26 January 2015 http://www.consilium.europa.eu/en/press/press-releases/2015/01/remarks-dijsselbloem-26january/

Eurogroup: Press Release, 26.01.15: Eurogroup statement on Latvia's updated Draft Budget Plan 2015 http://www.consilium.europa.eu/en/press/press-releases/2015/01/eurogroup-statement-on-latvia-updated-draft-budget-plan-2015/

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