Eurogroup Finance Ministers; Credit: Charles Caratini

The Eurogroup today celebrated its 20th anniversary with a ​​birthday lunch at Senningen Castle in Luxembourg.

On the initiative of Finance Minister Pierre Gramegna, the euro area ministers met at Senningen Castle on 21 June 2018 to celebrate the 20th anniversary of the Eurogroup.

The first meeting of the Eurogroup took place at Senningen Castle on 4 June 1998. Since then, the Eurozone Finance Ministers have been meeting monthly to coordinate the economic and financial policy of the area.

The lunch was preceded by a meeting of the 19 Eurogroup Ministers, as well as the President of the Central Bank, Mario Draghi, the Vice-President of the European Commission, Vladis Dombrovskis, the European Commissioner for Economic and Financial Affairs, Taxation and Customs, Pierre Moscovici, and the Director General of the European Stability Mechanism, Klaus Regling.

In front of his European colleagues and alongside the President of the Eurogroup, Mário Centeno, Minister Pierre Gramegna gave a speech retracing the history of the euro, during which he recalled that "the single currency is one of the most successful political and economic integration projects in the history of our continent. Since its 19 years of existence, the euro is stronger than ever." He also stressed that Europe is now experiencing a solid recovery and that the architecture of the area could be strengthened during the crisis years.

In his speech, President Mário Centeno emphasised the importance of further strengthening the architecture of the area. In particular, President Centeno noted that the Economic and Monetary Union is "a project worth defending to ensure a better future and greater prosperity for our children and grandchildren across the continent"

Finally, Pierre Gramegna and Mário Centeno unveiled a commemorative plaque marking the 20th anniversary of this historic moment.