Finnish Finance Minister Mika Lintilä told the European Parliament's Economic and Monetary Affairs Committee on Wednesday 4 September that he wanted to make progress on several economic and financial issues such as taxation, Economic and Monetary Union (EMU) and the Capital Markets Union (CMU).
Affirming that the European Union was living in "crucial times", Mr Lintilä first recalled the three working themes of the Finnish Presidency of the Council of the European Union, namely competitiveness and social cohesion, the fight against climate change and the protection of citizens from internal and external threats (see EUROPE 12283/2).
On the economic and financial side, these commitments are reflected in several political priorities.
EMU. First of all, the Finnish Minister wishes to continue the work within the Eurogroup on the establishment of the future fiscal capacity for the euro area. In June, the Finance Ministers of the Twenty-Seven agreed on several points (see EUROPE 12275/1, 12280/1).
Still on EMU, as stated by Mário Centeno, the President of the Eurogroup, the drafting of the new statutes of the European Stability Mechanism (ESM), the permanent rescue fund for the euro area, will have to be finalised.
In addition, Mr Lintilä expressed his intention to continue technical work on the European Deposit Insurance Scheme (EDIS).
On the banking side, the Minister said he was ready to start inter-institutional negotiations ('trilogues') on secondary markets for non-performing loans (see EUROPE 12223/20). The European Parliament, on the other hand, has not adopted its negotiating position on the matter (see EUROPE 12236/22).
Mr Lintilä also wishes to start trilogues on future European rules on participatory financing, within the framework of the Capital Markets Union (see EUROPE 12283/25).
On the matter of the taxonomy on sustainable finance, the Minister hopes for a political agreement ('general approach') in principle in the autumn to start the trilogues (see EUROPE 12282/17, 12224/1), while progress in the work has just been made at the technical level.
Taxation. Taxation played a prominent role in Mr Lintilä's presentation and in MEPs' questions.
The Minister wishes to reach agreement on the proposals relating to value added tax (VAT). Work must also continue on excise duties (see EUROPE 12257/1), although the Finnish Minister acknowledged that "some issues require political positioning", particularly with regard to the scope of the future provisions. Similarly, Mr Lintilä would like to see progress on the Financial Transaction Tax (FTT) (see EUROPE 12275/2).
When asked about digital taxation, he said he followed with interest the positions expressed by member countries of the Organisation for Economic Co-operation and Development (OECD).
But "tax solutions should apply globally", he said (see EUROPE 12316/8).
In addition, Mr Lintilä called for progress in the fight against tax evasion, erosion of the tax base and intra-group transfers of profits.
In addition, the ECOFIN Council is expected by the end of the year, to adopt conclusions and a strategic agenda on the fight against money laundering.
Finally, Mr Lintilä expressed his willingness to discuss issues related to the fight against climate change in the Ecofin Council. (Original version in French by Lucas Tripoteau)