Brussels, 21/01/2002 (Agence Europe) - On Monday evening (after 20: 00 hrs), the European Economic and Finance Ministers met informally for Eurogroup, chaired by Rodrigo Rato, in order to discuss the general economic and budget situation of the eurozone countries. The European Commission said that any discussions on the budget situation of a particular Member State should only cover the ones whose Stability or Convergence Programmes will be discussed the next day by the ECOFIN Council (see EUROPE of 19 January, p.8), but other people think it is inconceivable that the worrying issue of Germany's public finances would not be raised (Germany's deficit could reach 2.6% of GDP in 2001). Officially, the assessment of Germany's Convergence Programme (along with those of the other eight countries) is scheduled for the 12 February ECOFIN Council, following the adoption on Wednesday 30 January of the Commission's recommendations on the nine countries.
Against this backdrop, an official from a Member State said that Commissioner Pedro Solbes would be taking advantage of the 30 January meeting to "prepare the way" for the adoption of his opinions on the Stability or Convergence programmes of the nine remaining countries by explaining the interpretation of various Treaty procedures concerning the early warning system (of an excessive budget deficit) and "recommendations" of the type sent too Ireland for failing to respect the Broad Economic Policy Guidelines. Mr Solbes' spokesperson said this suggestion was unfounded.
Eurogroup is expected to note the latest information provided by the Commission on the introduction of euro notes and coins, which has now won its spurs. Mr Solbes will be reporting back on the debates last year on structural reforms (their impact on the job market and fiscal measures taken by the Member States).