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Informal reunion of the EU Finance ministers, 5-6 April, Bucharest

Met dank overgenomen van Roemeens voorzitterschap Europese Unie 1e helft 2019 (Roemeens voorzitterschap), gepubliceerd op donderdag 28 maart 2019.

In the context of the Romania’s mandate at the Presidency of the EU Council, an informal reunion of the EU Finance ministers will be held in Bucharest, in April 5-6, 2019 at the Palace of the Parliament.

The two-day event will start with the usual Eurogroup (EG) and Eurogroup+ (EG+) meetings, scheduled for 9:00, respectively 10:30, on Friday morning April 5. The EG+ meeting will cover two subjects: features of the budgetary instrument for convergence and competitiveness - focus on governance aspects and the roadmap for beginning political discussions on EDIS.

Later in the day, The EU Finance ministers, joined by the Governors of Central Banks from EU Member States, will tackle topics like priorities for the next institutional cycle and the way forward for the Capital Markets Union. As a inovative Presidency, Romania decided to invite three representatives of the european social partners at the debate.

The agenda of the second day of the Informal Ecofin, Saturday 6 April, would not be lighter either, as it covers topics from workforce mobility in the EU, taxation issues, to common EU positions for the Washington G20 and IMF meetings.

Agenda

Multi-annual Financial Framework

The ministers will discuss about the elements of the Multi-annual Financial Framework which are of interest for ECOFIN, like the connection with the European Semester and the financing of the EU budget, based on a note of the Presidency including a series of questions that will lead the discussion.

Priorities for the following institutional cycle

Based on a study elaborated by Bruegel, on a note of the Presidency and on a note of the Economic and Financial Committee, the ministers and governors of the Central Banks will discuss about the priorities of the following institutional cycle.

The role of this orientation debate is to reach a consensus on the steps to be taken to ensure inclusive growth and the needs of convergence of the European Union.

Capital Markets Union - way forward

The ministers and governors of the Central Banks will discuss about the benefits and additional challenges in a more and more digitalized and ever greener economic environment, based on a Note of the Romanian Presidency of the Council on the way to follow with regard to Capital Markets Union and on the significant progress registered in view of reaching the objectives of the Capital Markets Union (CPU).

Workforce mobility in the EU: A challenge for public finance?

The impact of workforce mobility on the eroding of the tax base in the country of origin is a fundamental challenge for the Member States, which might affect public finance health. Since labor force mobility in the EU has significantly increased in the last decade, the ministers will discuss about the challenges of this phenomenon in their countries of origin and will attempt to approach the issue of the impact the flow of workers has on public finance. The Center for European Political Studies (CEPS) will present a material on this topic.

Role of taxation in supporting economic growth

  • The Bruegel Study discusses about the priorities of the EU and emphasizes the role of fighting tax evasion, as well as the need for a correct distribution of tax liabilities.
  • The CEPS study on worker mobility emphasizes the issues related to labor taxation.
  • Preparation of G20 and of the meeting of the International Monetary Fund
  • The ministers will be invited to approve the Terms of Reference for the G20 Meeting and the declaration to the International Monetary and Financial Committee (IMFC).

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