In Nicosia, the Minister of National Economy and Finance and President of the Eurogroup, Kyriakos Pierrakakis, is traveling to participate in the Eurogroup and the informal ECOFIN meetings.

Affordable housing will be a key item on the Eurogroup agenda, following Pierrakakis’ initiative to elevate the housing issue as one of the EU’s major social and economic challenges. The issue now affects nearly all European countries, with its impact being most severe for young people and families.

Eurozone finance ministers will exchange views on the causes of the housing crisis, as well as policies that could improve citizens’ access to affordable housing. Emphasis will be placed on financing, increasing housing supply, and using European tools.

The meetings are taking place at a critical moment for the European economy, with energy security, competitiveness, financial stability, and growth support dominating the EU agenda.

Eurogroup discussions will cover macroeconomic developments in the euro area, based on the European Commission’s spring forecasts, as well as developments in international energy markets amid the prolonged crisis in the Middle East. Particular attention is expected to be given to the impact of energy pressures on the European economy and inflation.

The agenda also includes an update on the progress of the digital euro, as part of EU efforts to modernize the financial system and strengthen the European Union’s strategic autonomy.

Within the informal ECOFIN framework, finance ministers and central bank governors will discuss the need to accelerate EU reforms to enhance competitiveness, based on presentations by Pierre Gramegna, head of the European Stability Mechanism (ESM), and Professor Andreas Theophanous.

They will also exchange views on the growing use of stablecoins, examining their role in the international financial system and the challenges they pose for financial stability and regulatory frameworks.

On the sidelines of the meetings, Kyriakos Pierrakakis will hold a series of contacts with European officials and counterparts.