Minister of Finance, Makis Keravnos, travels to Luxembourg on Sunday to participate in the Eurogroup and Ecofin meetings, which will take place on 7 and 8 October.

According to a Finance Ministry press release, on Monday, October 7, the Minister will participate in the Eurogroup, which will start in an inclusive format, with the participation of all EU member states.

The Finance Ministers will first exchange views on the policy priorities for the Digital Euro, on the basis of a presentation by the European Central Bank. Later on, the Ministers will continue the discussion launched at the beginning of the year on EU competitiveness, aiming to adopting a joint statement before the end of the year. Ministers will then exchange views on ways to facilitate access to capital markets for medium-sized enterprises.

The session will also be attended by the President of the European Investment Bank, who will present the Bank's plans to support the Capital Markets Union and in particular in relation to the financing conditions of medium-sized enterprises in the EU.  

After that, Eurozone Ministers will be briefed by the European institutions on the latest economic developments, including developments in international currency markets, in view of the Annual Meetings of the World Bank and the IMF.

On Tuesday, October 8th, ECOFIN will take place, starting with an exchange of views on the economic consequences of the Russian invasion of Ukraine. The Council will also be updated on the progress in the implementation of the Recovery and Resilience Mechanism and will be invited to approve the amended Recovery and Resilience Plans of Portugal and Lithuania.

Ministers will also exchange views on the lessons learned from the European Semester, which is the annual process of coordinating the EU's economic and social policies. Finally, Ministers will adopt conclusions on the EU's participation in the G20 meeting of Finance Ministers and Central Bank Governors and the COP29 climate change summit.

On the sidelines of the Eurogroup and Ecofin meetings, Keravnos will attend a meeting with his counterparts from Poland and Denmark, on the coordination and preparation of the Trio Presidency of the Council of the EU. The Trio Presidency starts in January 2025 with the Polish Presidency, continues with the Danish Presidency and ends with the Cyprus Presidency in the first half of 2026.

The Minister will return to Cyprus on Wednesday, October 9.