Ministarstvo vanjskih i europskih poslova

Meeting of the Council of Ministers of Economy and Finance (ECOFIN)

On June 19th, last ECOFIN under Latvian Presidency was held. HR was represented by Ambassador Mato škrabalo, Permanent Representative of the Republic of Croatia to the European Union. One of the main outcomes of the meeting was the adoption of the general approach for structural measures to improve resilience of the credit institutions of the EU, based on which Luxembourgish Presidency will enter into negotiations with the EP. The main goal of the Regulation is to improve the financial stability of the Union by reforming big, systemically important banks. The Council adopted an action plan for the creation of Capital Markets Union (CMU), which sets out short, medium and long term objectives. The plan of the European Commission is to publish action plan by autumn that will include measures to strengthen the capital market in the EU in order to, among other things, attract investments in innovative enterprises (start-ups) and in infrastructure projects. As part of the Stability and Growth Pact, Excessive deficit procedure was abrogated for Poland and Malta, while the United Kingdom received new recommendations. The ministers discussed the next steps regarding the adoption of European Fund for Strategic Investment (EFSI), part of so called Juncker Plan. Finance ministers agreed on County Specific Recommendations within the European semester and forwarded them for the adoption to the General Affairs Council. Finally, traditionally for the June ECOFIN, tax issues were discussed.

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