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Video conference of the Eurogroup, Online

De letters WWW staan op het scherm
Kevin Bergenhenegouwen
datum 11 juni 2020
locatie Online Toon locatie
organisatie Eurogroep

Main results

Regular format (euro area countries)

Eurogroup Presidency

Infographic - Election of the Eurogroup President

See full infographic

"I informed my fellow ministers today that I will not be seeking a second mandate. I will remain President of the Eurogroup until the end of my mandate, which is 12 July."

Eurogroup President Mário Centeno

The incumbent Eurogroup president, Mário Centeno, informed ministers of the process for electing a new president. Interested ministers will be able to put forward their candidacy in June. President Centeno's term comes to an end on 12 July. He will not seek a second mandate.

The Eurogroup is scheduled to elect a new president at its meeting in July 2020.

Enhanced surveillance report for Greece

The Eurogroup discussed the sixth enhanced surveillance report on Greece. Ministers concluded that the conditions to confirm the release of the third tranche of policy-contingent debt measures had been met.

The Commission adopted a decision on 11 July 2018 to activate the enhanced surveillance framework for Greece, which entered into force following the end of the European Stability Mechanism (ESM) programme, in August 2018.

The quarterly enhanced surveillance reports enable close monitoring of the economic, fiscal and financial situation and the post-programme policy commitments, as agreed by the June 2018 Eurogroup.

"Even in this extraordinary situation, Greece has taken necessary action to deliver on its reform commitments. On this basis, we reached a political understanding on the approval of the next tranche of debt measures."

Eurogroup President Mário Centeno

Post Programme Surveillance: Cyprus and Spain

The Eurogroup was briefed by the European Commission and the European Central Bank (ECB) on the main findings of the:

  • 8th post-programme surveillance mission to Cyprus
  • thirteenth post-programme surveillance mission to Spain

Post-programme surveillance starts automatically after the end of European Stability Mechanism financial assistance programmes. It continues until at least 75% of the financial assistance received has been repaid. Reporting and missions follow a biannual schedule.

Banking Union: euro area aspects

The chair of the European Central Bank (ECB) Supervisory Board, Andrea Enria, presented ECB Banking Supervision tasks carried out since the previous hearing in October 2019. The report focused on the measures adopted to mitigate the impact of the COVID-19 crisis on banks and to support them to continue lending to households and firms.

The Chair of the Single Resolution Board (SRB), Elke König, presented recent activities undertaken in response to the COVID-19 crisis to alleviate the immediate operational burden on the banks under their remit. She also updated the Eurogroup on resolution planning, resolvability, including MREL (minimum requirement for own funds and eligible liabilities), and the build-up of the Single Resolution Fund (SRF).

The hearings of the chairs of the European Central Bank (ECB) Supervisory Board and the Single Resolution Board (SRB) take place twice a year.

Revised short-term Eurogroup work programme

The Eurogroup endorsed a revised, short-term, work programme reflecting the reprioritisation of work in light of the COVID-19 pandemic.

The Eurogroup normally endorses and publishes its work programme twice a year, covering the first and second semesters.

Inclusive format (EU 27)

Economic situation and policy measures to support the recovery

On 23 April, the President of the European Council asked the Eurogroup to “closely monitor the economic situation and prepare the ground for recovery”.

In this context, ministers exchanged views on the economic situation and recovery needs. They focused on the complementarity between national and European policies.

Ministers also reflected on the implications of euro area membership for the recovery and resilience plans, including the possible link with the euro area recommendations, and the organisation of the Eurogroup's work in this respect.

"We discussed a possible euro area dimension to the recovery facility. Protecting the single currency is as critical as protecting the single market."

Eurogroup President Mário Centeno


Inhoud

1.

Eurogroep

De Eurogroep bestaat uit de ministers van Financiën van de landen die de euro als nationale munteenheid hebben ingevoerd (de eurozone). Dit samenwerkingsverband heeft als doel de coördinatie van economisch beleid binnen de muntunie te versterken en de financiële stabiliteit van de eurolanden te bevorderen. Het is strikt genomen een informeel orgaan en geen formatie van de Raad.

De Eurogroep bereidt ook de bijeenkomsten voor van de Eurotop, die bestaat uit de staatshoofden en de regeringsleiders van de eurolanden, en zorgt voor de uitwerking van de besluiten die daarin worden genomen.

2.

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