Finance ministers to discuss Russia’s invasion of Ukraine and the related economic impact
Minister of Finance Annika Saarikko will represent Finland in the meeting of EU and euro area finance ministers on 14–15 March.
The finance ministers will discuss Russia’s invasion of Ukraine and the related economic impact.
The Economic and Financial Affairs Council will discuss the proposal for a Council directive on ensuring a global minimum level of taxation for multinational groups in the Union. The second major item on the agenda is the proposal for the EU’s Carbon Border Adjustment Mechanism (CBAM). One of the key objectives of the French Presidency of the Council of Europe is to move both proposals forward.
The CBAM is part of the package presented by the European Commission last July to implement the European Green Deal and to transform the EU’s economy to achieve its climate objectives. The CBAM is intended to prevent carbon leakage, i.e. the transfer of production to countries with more lax environmental standards in situations where the EU intends to intensify its climate measures.
The finance ministers will also discuss reforming economic policy coordination.
Eurogroup to discuss next year’s fiscal policy
The Eurogroup will meet on Monday 14 July. The agenda includes fiscal policy guidance for 2023 from the perspective of the euro area and the presentation of Greece’s enhanced surveillance report. An extended composition consisting of the ministers of all EU Member states will discuss the progress of the banking union and the preparations for the Euro Summit in March.
Susanna Ikonen, Senior Ministerial Adviser, tel. +358 295 530 049, susanna.ikonen(at)gov.fi
Petra Schulze Steinen, Special Adviser to the Minister of Finance, tel. +358 40 671 7278, petra.schulze-steinen(at)gov.fi
The Economic and Financial Affairs Council (Ecofin) is one of the configurations of the Council of the European Union. Ecofin makes decisions on EU legislative proposals within its remit, usually in cooperation with the European Parliament. It is also responsible for coordinating the economic policies of EU Member States. Ecofin is composed of the Member States’ economic and financial affairs ministers.
The Eurogroup is an informal body tasked with coordinating economic policies among the euro area member states and promoting economic growth. The Eurogroup consists of the economic and financial affairs ministers of the euro area member states. Although the Eurogroup has no legislative function, it does set out policy guidelines.