Economic and Financial Affairs Council, 14/07/2015 – Main results
Economic, fiscal and employment policies – Recommendations to the member states
The Council issued country-specific recommendations and opinions on the economic, fiscal and employment policies planned by the member states, as well as a specific recommendation on the economic policies of the euro area.
Adoption of the texts, following their endorsement by the European Council in June, concludes the 2015 “European Semester” policy monitoring process. The European Semester involves simultaneous monitoring of member states’ economic and fiscal policies during a six-month period every year.
Presidency work programme
The Luxembourg presidency presented its work programme, and the Council held an exchange of views.
The presidency puts investment at the heart of its agenda. It will ensure swift implementation of the EU’s action plan on investment, and will support the creation of a capital markets union.
It will also pursue negotiations on a number of legislative proposals dealing with financial services, and will make fighting tax fraud and tax evasion a high priority.
“Luxembourg has presented a comprehensive work programme and I am glad to see that the priorities are shared by our partners in the Council and the Commission”, commented Pierre Gramegna, minister for finance of Luxembourg and president of the Council. “As a presidency, we will work hard to build bridges and find compromises in order to achieve concrete progress on all the items in our agenda.”
Economic and monetary union – “five presidents'” report
The Council discussed next steps for the further development of the EU’s economic and monetary union, on the basis of the so-called five presidents’ report.
The report had been prepared by the president of the Commission, in close cooperation with the presidents of the European Council, the Eurogroup, the European Central Bank and the European Parliament.
The discussion focused on short-term measures. The Commission outlined initiatives planned to take work forward in the coming months.