On 16 and 17 June 2016, Luxembourg Minister of Finance, Pierre Gramegna, will take part in the meetings of the Eurogroup and the Economic and Financial Affairs Council (Ecofin).

The Eurogroup will meet on Thursday 16 June 2016 to exchange views on inflation and exchange rate developments in the euro area over the last six months. The long-term risks to the sustainability of euro area member states' pension systems will also be on the agenda as a means of finding government policies to help contain these risks.

Managing Director of the International Monetary Fund (IMF), Christian Lagarde, will also be in attendance to present the outcome of the IMF Article IV review of the current situation, outlook and policies in the euro area.

The following day, the Ecofin Council will aim to agree on a proposal for an anti tax avoidance directive to prevent large companies from using certain practices to reduce their tax liability, building on OECD recommendations concerning base erosion and profit shifting (BEPS), issued in October 2015.

The Council will also take note of progress achieved on the proposal for the European deposit insurance scheme and further risk-sharing and risk-reducing measures needed.

The Council will additionally review the state of play regarding a proposal for a directive introducing a financial transaction tax (FTT), approve draft recommendations to 27 EU Member States on their economic policies and discuss means ot fighting VAT fraud based on a presentation by the Commission. The Council will adopt its negotiating position on new prospectus rules, before confirming its general approach on a draft regulation on money market funds.

 

Photo by eu2015lu (Pierre Gramegna)