At ECOFIN Meeting – Preparation for Spring European Council Meeting

Vilnius, February  11. Finance Minister Rimantas Šadžius leaves for Brussels (Belgium)  to participate in ECOFIN Council meeting, where important issues related to the preparation for the European Council meeting  to be held on 13-14 March 2008 will be discussed, also revised Stability and Convergence Programmes of several countries, and Council recommendations for 2006 EU budget will be considered.

In preparation for the Spring European Council Meeting, at the meeting EU ministers will discuss draft conclusions prepared by the Slovenian Presidency – ECOFIN Council contribution to the Spring European Council Meeting. The document highlights the following areas: rapid economic growth and existing downside risks; actions to be taken by the EU countries in implementation of structural reforms for growth and jobs; public finances and their potential contribution to macroeconomic stability; enhancement of efficiency and stability of financial markets; promotion of further successful functioning of the economic and monetary union. For this ECOFIN meeting draft European Council conclusions will be presented, which will be a contribution to the European Council discussions on climate change.

During this meeting the revised Stability and Convergence Programmes of the first group of Member States (Germany, France, Italy, Luxembourg, the Netherlands, Finland, Hungary, Romania, Slovakia, Sweden and the United Kingdom) will be considered. Besides, EU ministers are going to change their views on the progress aiming at better regulation in the EU and to discuss Council recommendations for the execution of 2006 financial year budget.

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