Brussels Daily
09 Jul 2018


Brussels Daily

 Agenda highlights

Information from June Euro Summit

Eurogroup President Mário Centeno will inform ministers of the outcome of the June Euro Summit.

He will also briefly outline the issues related to the deepening of the Economic and Monetary Union on which the Eurogroup will be expected to work until the next Euro Summit meeting, which is scheduled for this December.

Presentation of the summer interim forecast

Ministers will discuss the economic situation and outlook for the euro area, on the basis of a presentation by the European Commission of its interim summer forecast.

The Eurogroup regularly discusses the economic situation and economic policy challenges as part of its efforts to effectively contribute to economic growth and job creation.

The Commission’s summer forecast is expected to be published on 12 July.

Budgetary situation and prospects

Ministers will hold another discussion on the budgetary situation in the euro area as a whole, focusing on the prospects for 2019. The results of this exchange will contribute to the preparation of the euro area member states’ draft budgetary plans, as well as of the recommendations for the euro area member states for 2019.

The Chairman of the European Fiscal Board (EFB), Niels Thygesen, is expected to present the EFB’s recently published report. The EFB is an independent body which provides advice to the European Commission on matters related to the euro area fiscal stance.

The Eurogroup is required by EU law to discuss the euro area’s budgetary situation and prospects, in the framework of the assessment of the euro area member states’ draft budgetary plans. It therefore holds regular discussions on the euro area fiscal stance.

Ireland and Spain: post-programme surveillance missions

The European Commission and the European Central Bank will present to the Eurogroup their main findings from their post-programme surveillance missions to Ireland and Spain, which took place in May and April 2018 respectively.

The European Stability Mechanism (ESM) will present the findings related to its early warning system in both countries.

The International Monetary Fund also carried out its Article IV consultation with Ireland in May of this year.

Post-programme surveillance (PPS) is carried out in countries that have completed financial assistance programmes until at least 75% of the financial assistance received has been repaid. The purpose is to assess whether there are any risks to their ability to repay the loans received during their programmes.

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