The Minister of National Economy and Finance, Kyriakos Pierrakakis, is travelling to Luxembourg, where he will participate in the Eurogroup and ECOFIN meetings.

During today’s meeting, European finance ministers will discuss the situation in the eurozone, fiscal developments in member states, and internal obstacles to competition, also in light of the relevant reports to be presented by the International Monetary Fund. The focus will also be on preparations for the introduction of the digital euro and the process of electing a new President of the Eurogroup.

At tomorrow’s ECOFIN meeting, the European Commission’s progress report on the EU Customs Union will be presented. The aim is to simplify customs procedures for businesses and ensure the correct collection of duties and taxes for the benefit of national budgets and the EU budget.

In a period of intense geopolitical instability, the Finance Ministers will then exchange views with a view to finding ways to reduce energy costs in the EU. They will also discuss the next steps in the field of European defence financing and the ongoing economic impact of Russian aggression against Ukraine. The ECOFIN finance ministers’ dinner will also analyse Ukraine’s economic and defence needs.

The ECOFIN Council will be presented by the European Commission with the Spring Package of the European Semester 2025, with country-specific recommendations. On the agenda is also the adoption of the revised recovery and resilience plans for Spain, Italy, Croatia, and Slovenia.

Both the Eurogroup and ECOFIN will consider the enlargement of the euro area given Bulgaria’s imminent adoption of the common currency.

The Minister of Economy and Finance will also participate in the Annual Meetings of the Boards of Governors of the European Stability Mechanism and the European Investment Bank.

On the sidelines of the Eurogroup and ECOFIN meetings, Mr. Pierrakakis will hold meetings with European officials and counterparts.