In Cyprus, which holds the EU Council Presidency – discussions on the macroeconomic situation in the euro area, EU competitiveness and housing affordability challenges
On May 22-23, Minister of Finance Kristupas Vaitiekūnas will attend the informal meeting of the European Union (EU) Ministers of Economic and Financial Affairs and the Eurogroup (EG) meeting in Cyprus. The meetings will focus on the competitiveness of the European Union and macroeconomic developments in the euro area, housing affordability issues and the continuity of the digital euro project.
“Uncertainty in the global economy has not declined, as new challenges are emerging which need to be addressed at different levels. We need to talk not only about problem solving, but also about the progress of the EU, strengthening competitiveness as a preventive measure in the fight against economic shocks on the world market, reducing waves of turbulence”, Minister of Finance Kristupas Vaitiekūnas said ahead of his visit to Cyprus.
At the informal ECOFIN meeting, ministers of finance will discuss the urgent need to strengthen the EU competitiveness in the context of recent geopolitical events. They will also exchange views on the use of stablecoins, discussing their risks and opportunities for the development of the EU financial system. During the meeting, ministers will also discuss how Europe can meet growing spending needs without jeopardising long-term fiscal sustainability.
At the Eurogroup meeting, ministers of finance will discuss macroeconomic developments in the euro area and take stock of the current energy market situation, based on the European Commission's spring forecasts, and exchange views and experience on the main economic challenges and policy options related to housing affordability. According to K. Vaitiekūnas, Lithuania broadly supports the provision presented in the European Commission's document that the first priority for addressing housing affordability is to strengthen supply-side measures, while avoiding large-scale demand stimulation.
“Lithuania considers that the most sustainable way to increase the availability of housing is a higher and more flexible supply of quality housing, the effective application of targeted measures for vulnerable population groups and a long-term, coherent housing policy strategy at national level. In general, the issue of availability of housing must not be seen as a narrow sectorial or social policy issue, housing policy must be shaped as a horizontal public policy area covering the links between economic, social, environmental, regional and financial policies”, K. Vaitiekūnas said.
At the Eurogroup meeting, ministers will be also presented the latest information on the state of play of the digital euro project being developed by the European Central Bank.
Minister of Finance Kristupas Vaitiekūnas during his visit to Cyprus will also meet with Greek Minister of Economy and Finance and Eurogroup President Kyriakos Pierrakakis. Issues related to the upcoming Lithuanian Presidency and EU Multiannual Financial Framework (MFF) negotiations will be discussed during the meeting.
Last updated: 25-05-2026
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