Gilles Roth, Luxembourg's Minister of Finance;
Credit: European Union, Cyprus Presidency
On Friday 22 and Saturday 23 May 2026, Luxembourg’s Minister of Finance, Gilles Roth, took part in the informal meetings of the Eurogroup and the Economic and Financial Affairs Council (ECOFIN) in Nicosia, Cyprus.
As reported by Luxembourg’s Ministry of Finance, during the Eurogroup meeting, the European Commission presented its latest economic forecasts. On this basis, finance ministers discussed macroeconomic developments in the euro area and the impact of the conflict in the Middle East on energy prices.
Ministers also addressed the issue of Europe’s competitiveness, with a particular focus on housing, and reviewed progress on the implementation of the digital euro.
During the informal ECOFIN meeting, finance ministers examined issues related to the European Union’s long-term competitiveness in light of current geopolitical developments. Discussions also included contributions from European Stability Mechanism President Pierre Gramegna and Professor Andreas Theophanous.
According to the ministry, think tank Bruegel presented the current state of stablecoin use, after which finance ministers and central bank governors exchanged views on the future of these instruments in Europe.
In addition, alongside representatives of the International Monetary Fund and the European Court of Auditors, the ECOFIN Council examined how Europe can respond to increasing spending needs while preserving the long-term sustainability of public finances.
Minister Roth commented: “In the face of current geopolitical and economic challenges, Europe must act with greater determination to strengthen its competitiveness. It is essential to accelerate European reforms, support investment and innovation, and establish the conditions for sustainable growth, while preserving financial stability and the sustainability of public finances.”
