Follow Us

Follow us on Twitter  Follow us on LinkedIn

27 January 2015

ECOFIN meeting 27 January

Default: Change to:

The meeting covered the investment plan for Europe and new rules to prevent money laundering

Investment plan for Europe

The Council discussed a proposal to establish a European fund for strategic investments, which is expected to mobilise at least €315bn in private an public investment.  

The Presidency confirmed plans to reach an agreement in March 2015, so as to allow for new investments as early as mid-2015.

"This proposal is the cornerstone of investment plan for Europe and a major priority for the Latvian Presidency", said Jānis Reirs, Minister for Finance of Latvia and President of the Council. "The deadline set by the European Council is ambitious, but we are confident of being able to meet it."

New rules to prevent money laundering

The Council endorsed an agreement reached with the European Parliament on new rules to prevent money laundering and terrorist financing.

Agreement with the Parliament was reached by the Presidency in December 2014. Approval of that outcome paves the way for adoption of the package at second reading.

Following the recent terrorist attacks in Paris, the Council and the Commission agreed on a statement highlighting the need to take decisive actions against terrorist financing.

To enhance the efficiency of the new rules, the statement calls for further efforts towards:

  • Speeding up national implementation of those rules
  • Strengthening cooperation on terrorist financing between the member states' financial intelligence units
  • Addressing terrorist financing risks via the EU's supranational risk assessment

Full press release

Remarks by Vice-President Dombrovskis at ECOFIN press conference

© Council of the European Union

< Next Previous >
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information

Add new comment