Joint statement by European finance ministers on euro-area budgetary instrument

Ministry of Finance 2.5.2019 8.23
News item

1 May 2019, the finance ministers of Finland, Latvia, Lithuania, Sweden, Denmark, the Netherlands and Ireland have issued a statement on the euro-area budgetary instrument.

Released by the Eurogroup within the context of preparing for the EU Summit in June, the statement was forwarded to Eurogroup President Mário Centeno.

The ministers note that the role of the budgetary instrument is to foster convergence and competitiveness in the euro area and within the EU. It is also set to support structural reforms and public investment. The joint statement moreover discusses the conditionalities of use and how the instrument should be implemented. The ministers also agreed that the size of the instrument should be determined during the negotiations on the Multiannual Financial Framework (MFF) of the EU, and it should be financed within the framework of funding under the regular EU budget.

This joint statement is consistent with Finland's positions and the statements issued by the Finnish Parliament.

Joint statement

Minister Orpo's column: Finland has reservations about a separate budget instrument for the euro area (in Finnish)

Inquiries:

Tuomas Saarenheimo, Permanent Under-Secretary, tel. +358 2955 30350, tuomas.saarenheimo(at)vm.fi

Economic Policy Petteri Orpo