Minister Roth Addresses Future of EIB, Capital Markets Union, Ukraine War at Eurogroup, ECOFIN Meetings

Luxembourg's Ministry of Finance has confirmed that, on Friday 23 and Saturday 24 February 2024, Minister Gilles Roth attended the informal meetings of the Eurogroup and the Economic and Financial Affairs Council (ECOFIN) in Ghent, at the invitation of the Belgian Presidency of the Council of the European Union.

The Eurogroup ministers began, in an open format, by discussing the draft declaration of the Capital Markets Union. Then the debates focused on macroeconomic developments and economic prospects within the euro zone.

Organised in different “working sessions”, spanning two days, the ECOFIN ministers first discussed the strategic direction of the European Investment Bank (EIB). As current President of the EIB Board of Governors, Minister Van Peteghem moderated the debate on the future of the Group. The new EIB President, Nadia Calviño, subsequently presented her vision for the future of the EU's public lender and the largest multilateral bank.

In a second session, discussions focused on the future of the Capital Markets Union, with a particular focus on education and financial inclusion. Improving financial education was already one of the priorities of the Capital Markets Union action plan. The second anniversary of the war in Ukraine was commemorated with a minute of silence.

The next day, the debates mainly revolved around ECOFIN's contribution to the agenda of the future European Commission regarding the competitiveness of the European Union.

On the sidelines of these events, Minister Roth had a bilateral meeting with Mairead McGuinness, European Commissioner responsible for Financial Services, Financial Stability and the Capital Markets Union.