Meeting of the EU Economic and Financial Committee in Vilnius
On 14-15 June, a meeting of the Economic and Financial Committee is held in Vilnius, where representatives of European Union (EU) ministries of finance, central banks and EU institutions discuss key EU economic and financial issues, including further support to Ukraine and the use of frozen russian assets, strengthening economic competitiveness, developing capital markets and the international role of the euro.
Vice-Minister of Finance Mindaugas Liutvinskas, who attended the meeting, stressed that, in addition to continuing issues on the EU agenda, it is important to clearly define strategic priorities for the new EU institutional cycle in the current context, following the recent European Parliament elections.
"In order to increase the competitiveness of the EU economy, deepening the single market, including in areas such as the banking sector and capital markets, must remain at the top of the European agenda. In addition, strengthening the EU's defence capabilities and industry, continued financial support to Ukraine and preparations for the EU enlargement process must be duly reflected in the next EU multiannual budget. The implementation of these tasks will make the EU stronger both internally and externally,” Vice-Minister Liutvinskas, a member of this committee, said.
"The European Union has been facing challenges in recent years: supply side shocks, increased geopolitical risks and lingering economic uncertainty. Nevertheless, both during the Covid-19 pandemic and in the wake of russia’s war against Ukraine, central banks and governments have demonstrated their ability to act together within their mandates to avoid the worst economic scenario. We will continue to face challenges, so the importance of such cooperation will only grow. These are the issues we will talk about at the meeting in Vilnius,” Asta Kuniyoshi, Deputy Chair of the Board of the Bank of Lithuania, shared her insights.
The Economic and Financial Committee is the main preparatory committee of the ECOFIN Council, which brings together representatives of all EU Member States from ministries of finance, central banks, the European Commission, the European Central Bank and other institutions. In preparation for its meetings, the Eurogroup also meets in the format of the Eurogroup Working Group.
Last updated: 21-06-2024
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