The Eurogroup welcomed the progress made by Greece on the implementation of reform commitments. In inclusive format, ministers continued work on the euro area budgetary instrument.
Greece
The institutions informed the Eurogroup on progress made by the Greek authorities on the implementation of the reform commitments specified in the Eurogroup statement of 22 June 2018, including its annex, that were pending at the time of the previous Eurogroup meeting.
The Eurogroup welcomed the adoption of a budget for 2019 which is projected to ensure the achievement of the primary surplus target of 3,5% of GDP, and the completion of important structural reforms including key privatisation transactions.
Ministers also welcomed the assessment by the European institutions that Greece has taken the necessary actions to achieve all specific reform commitments for end-2018 and that the necessary conditions are in place to confirm the release of the first tranche of policy-contingent debt measures, subject to completion of national procedures.
Eurogroup statement on Greece, 5 April 2019
Banking union: euro area aspects
European Central Bank's Supervisory Board Chair Andrea Enria presented recent activities of the Supervisory Board, covering non-performing loans (NPLs), Brexit preparedness, anti-money laundering (AML), and the supervisory challenges for 2019.
The Chair of the Single Resolution Board, Elke König, informed about the ongoing activities of the SRB.
ECB Annual Report on supervisory activities 2018">ECB Annual Report on supervisory activities 2018
Preparation of international meetings
Ministers took stock of inflation and exchange rate developments over the past months in view of the upcoming IMF spring meetings. The Eurogroup discusses exchange rate developments at regular intervals, in particular ahead of international meetings.
Updated draft budgetary plan – Luxembourg
The Eurogroup discussed the updated draft budgetary plan of Luxembourg for 2019, on the basis of the Commission Opinion issued on 22 March 2019, and issued a statement.
Eurogroup statement on the updated 2019 draft budgetary plan of Luxembourg, 5 April 2019
Exchange of views with the Chair of the European Parliament's ECON Committee
In a dedicated session, the Eurogroup exchanged views on the euro area's economic outlook and challenges with the Chair of the European Parliament's ECON (Economic and Monetary Affairs) Committee, Roberto Gualtieri.
The purpose is to strengthen the exchange of information between the EP and the Eurogroup. This is an initiative in addition to the President of the Eurogroup regular hearings in the European Parliament, and notably at the ECON Committee, for an 'economic dialogue' on the Eurogroup's work and policy priorities.
Features of the budgetary instrument for convergence and competitiveness
Following the mandate received by EU leaders at the December Euro Summit, the Eurogroup in inclusive format continued to discuss the deepening of the Economic and Monetary Union (EMU).
Ministers exchanged views on the features of the budgetary instrument for convergence and competitiveness for the euro area, and Exchange Rate Mechanism (ERM) II member states on a voluntary basis, with a focus on governance aspects.
The Eurogroup aims to agree on the features of the euro area budgetary instrument and to report to EU leaders in June.
Roadmap for beginning political discussions on EDIS - Interim reporting from the High Level Working Group
The Chair of High Level Working Group on EDIS updated ministers on progress with the discussions on a roadmap for beginning political negotiations on a European deposit insurance scheme (EDIS) and further work planned until June.
Remarks by Mário Centeno following the Eurogroup meeting
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