Alan Farrell
Ceist:124. Deputy Alan Farrell asked the Minister for Finance to provide an update on his engagements at the most recent ECOFIN meeting; and if he will make a statement on the matter. [4006/24]
Amharc ar fhreagraThursday, 1 February 2024
Ceisteanna (124)
Freagraí scríofa
On Tuesday 16th January, I attended the first meeting this year of the Economic and Financial Affairs Council (ECOFIN) in Brussels.
The meeting began with a formal working breakfast and the usual updates on the economic situation as well as a debrief from Eurogroup the previous day.
The main agenda started with a presentation by my Belgian colleague on the work programme for the Belgian Presidency of the Council of the European Union (which will cover the first six months of 2024).
This was followed by an important discussion on the European Semester for 2024. As the Deputy will be aware, the semester is the yearly exercise to coordinate economic, fiscal, employment and social policy within the European Union. We reviewed and approved the text of the Council Conclusions on the Alert Mechanism Report 2024 and the Annual Sustainable Growth Survey 2024, and approved the 2024 Euro Area recommendations on the economic policy of the euro area.
We then had an engaged discussion on the economic and financial impact of Russia's aggression against Ukraine. Ireland recognises the scale of the challenges faced by Ukraine, and supports the EU’s united response to the war. We therefore support efforts to find agreement to ensure EU financial assistance to Ukraine continues over the next number of years.
Finally, ECOFIN gave a mandate to the Economic and Financial Committee (EFC) to finalise the EU's Terms of Reference for the G20 Finance Ministers' and Central Bank Governors' Meeting in Sao Paulo from 26th to 29th February.