Brussels, 03/05/2002 (Agence Europe) - The economy and finance ministers of the countries of the euro zone, meeting in Brussels on Monday evening within the Eurogroup, will have an exchange of views on the general economic situation and the outcome of the latest G7 and IMF meetings, as well as on enhancing co-ordination of economic policies. Structural reforms, notably in the labour market, with as backdrop the concerns over wage negotiations in Germany, are also on the agenda (see yesterday's EUROPE page 9).
The Eurogroup, chaired by Rodrigo Rato, will discuss the following issues:
- Economic situation: Commissioner Pedro Solbes will present his recommendations to ministers on the Broad Economic Policy Guidelines for 2002 (Bepgs), as well as his paper on economic perspectives (see EUROPE of 25 April, pages 8 and 9). Member States will be able to provide their appreciation of these texts. They will also provide their opinions on the latest FMI and G7 declarations after their meeting in Washington.
- Co-ordination of economic policies: the Eurogroup will discuss the letter from Commissioner Pedro Solbes, sent before the informal EcoFin Council of Oviedo, setting out food for thought on strengthening co-ordination of economic policies (see details in EUROPE of 15 and 16 April, p.12).
- Structural reforms: Solbes will present ministers with a paper on the situation regarding wages in the major European countries, and in particular on the different systems of wage negotiations that exist in the EU and the problem of wage indexation (wage negotiations have an obvious impact on the labour market, unemployment and inflation, as shown by the current negotiations going on in Germany). Mr. Solbes should call on ministers to engage in the necessary structural reforms in the matter.
