Minister of National Economy and Finance Kyriakos Pierrakakis is in Luxembourg to participate in the Eurogroup and ECOFIN meetings to be held today and tomorrow, respectively.

Issues of particular importance for the Greek economy will be at the centre of the discussions, as they concern the strengthening of investments, competitiveness, and the participation of citizens in European capital markets.

More specifically, in the context of the ECOFIN, the following issues will be discussed:

-the creation of the Savings and Investment Union (SIU), which aims to mobilise savings for investment and to increase the participation of citizens and businesses in capital markets,

– the simplification of the European legislative framework, with a view to reducing bureaucracy and costs for businesses.

In addition, the following will be addressed:

– the modification of the European Union’s Own Resources System,

– the spatial planning of the European Union and the spatial planning of the European Union;
-the revision of the Directive on excise duty on tobacco,

-the European Semester 2025, with a view to improving the coordination of economic policies,

-as well as the economic impact of the war in Ukraine and support through the Ukraine Facility.

In this context, the conclusions of the G20 Summit and the EU’s positions ahead of COP30 will be adopted, with an emphasis on financing actions to tackle climate change.

Today, at the Eurogroup meeting, finance ministers will discuss the macroeconomic and budgetary path of member states, while an enlarged group will discuss:

-the performance of European capital markets,

-the progress of capital market consolidation,

-and the latest developments in stablecoins and digital financial instruments.

In the margins of the meetings, Mr. Pierrakakis will hold bilateral contacts with European counterparts and officials, while he will also participate in the informal working lunch of the Competitiveness Lab, an initiative of finance ministers that aims to enhance competitiveness and European integration through actions on Capital Markets Consolidation, simplification of regulations, and mobilization of private investment.