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18 February 2015

ECOFIN meeting - 17 February 2015

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Topics discussed included: the investment plan for Europe, growth prospects and macroeconomic imbalances and the EU budget.

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 and public investment. 

The presidency confirmed plans to reach an agreement within the Council in March 2015, maintaining a schedule that should enable new investments to begin as early as mid-2015. 

"Today we received broad support for the approach we have been suggesting on a number of key issues", said Jānis Reirs, minister for finance of Latvia and president of the Council. "In the light of comments made by ministers, we shall now be issuing a first compromise proposal." 

Growth prospects and macroeconomic imbalances   

The Council discussed growth prospects and macroeconomic imbalances under the "European Semester", the EU's annual   policy monitoring  process. 

It adopted conclusions, as part of the process that will lead to country-specific recommendations to the member states in July 2015. 

EU budget   

The Council agreed priorities ahead of negotiations with the European Parliament on the EU's budget for 2016, and recommended that the European Parliament grant a discharge to the Commission for implementation of the  2013  EU budget. 

Furthermore, a first assessment report of the high-level group that is reviewing the system of   own resources  for the EU's budget was presented by the group's chairman, Mario Monti. 

Full press release

Outcome of ECOFIN

Statement by Vice-President Dombrovskis at the ECOFIN press conference

© Council of the European Union

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