| Author (Corporate) | Eurogroup |
|---|---|
| Series Title | Meeting |
| Series Details | 05.10.15 |
| Publication Date | 05/10/2015 |
| Content Type | News |
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A meeting of the Eurozone finance ministers took place on 5 October 2015 in Luxembourg. The following topics were discussed: + Greece The Greek minister for finance debriefed the Eurogroup on the policy priorities of Greece's newly appointed government following the general election of 20 September 2015. The Eurogroup discussed the state of play and the way forward in implementing Greece's new European Stability Mechanism programme, agreed in August 2105. + Thematic discussion: reform of the services sector in the euro area countries The Eurogroup continued its thematic discussion on reforming the services sector in the euro area countries. This discussion contributes to identifying and addressing some of the main reform challenges facing the euro area as a whole and allows for an exchange of best practices among the member states. + Policy in a low interest rate environment The Eurogroup continued its discussion, started in June 2015, on the best budgetary use of the windfall gains resulting from the currently low interest rates on public debt. Ministers exchanged views on common principles and on how to incorporate these into the fiscal surveillance process, based on a presentation by the European Commission. In June, ministers agreed that current windfalls should be used for fiscal consolidation, structural reforms and - depending on a member state's fiscal situation - public investment projects. + Draft budgetary plans for 2016 The Eurogroup began preparations for the annual euro area budget surveillance procedure. The euro area member states have to submit their draft budgetary plans to the European Commission for review by 15 October each year. The Commission then issues its opinion on the plans, indicating whether they are in line with the Stability and Growth Pact rules. The Eurogroup discusses the Commission's assessment in November. This procedure was established in the so-called 'two-pack' (two legislative acts) with the aim of further strengthening fiscal coordination among the euro area member states. |
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| Source Link | Link to Main Source http://www.consilium.europa.eu/en/meetings/eurogroup/2015/10/05/ |
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| Subject Categories | Economic and Financial Affairs, Politics and International Relations |
| Countries / Regions | Europe |
