The finance ministers of the euro area countries will discuss the Capital Markets Union (CMU), competitiveness and the digital euro on Monday 7 October, in Luxembourg.
To begin with, the twenty ministers will take stock of the macroeconomic situation, particularly in the light of developments in monetary exchange rates. The President of the Eurogroup, Paschal Donohoe, will inform them of how he intends to report to the leaders of the euro area countries, who will meet on Friday 18 October, on the fringes of the European summit.
CMU. In an inclusive format, the Eurogroup will also take stock of the progress made in implementing initiatives to complete the Capital Markets Union (CMU).
On Monday, the focus will be on non-legislative measures to advance the integration of capital markets in the EU. The ministers will discuss how to mobilise financing to support ‘mid-cap’ companies, with a presentation by EIB President Nadia Calviño on the EU Bank’s contribution beyond the ‘European Technology Champions’ initiative, launched in February 2023 (see EUROPE 13120/17).
Last March, the ministers identified thirteen key measures and urged the European Commission to submit legislative proposals as soon as possible, with a view to the 2024-2029 cycle (see EUROPE 13368/3).
On the issue of competitiveness, the Eurogroup will consider how the macroeconomic tools at its disposal can help to boost competitiveness in the EU. Its aim is to adopt a declaration in November to feed into the EU Council’s discussions on the follow-up to the Draghi report.
The ministers will also take stock of the work underway on the digital euro, led primarily by the ECB, but also based on a legislative package currently being negotiated by the European Parliament and the Council of the EU (see EUROPE 13436/8). They will focus on current developments in payment systems. (Original version in French by Mathieu Bion and Bernard Denuit)