28/04/2023 09:22
Cyprus’ Minister of Finance Makis Keravnos departs for Stockholm to take part in the informal meetings of the Euro area Finance Ministers (Eurogroup) and EU Finance Ministers (Ecofin) taking place on Friday and Saturday.
Tomorrow, Keravnos will participate the informal Eurogoup meeting, during which the European Commission will present the main objectives of its legislative package on the crisis management and deposit insurance framework that was presented on 18 April 2023, a press release by the Finance Ministry says.
The Eurogroup, it adds, will also take stock of macroeconomic and financial stability developments. The Commission and the European Central Bank (ECB) will update ministers on the macroeconomic and financial situation.
The chair of the ECB Supervisory Board, Andrea Enria, and the chair of the Single Resolution Board, Dominique Laboureix, will provide their assessment of recent banking sector developments.
"This will allow for a broad exchange of views and offer preliminary insights for policy makers into recent developments in the international banking sector," the Finance Ministry says.
The chair of the European Parliament's committee on economic and monetary affairs, Irene Tinagli, has been invited to participate in the discussion.
In the context of the informal Ecofin meeting, the EU Economy and Finance Ministers and Central Bank Governors will exchange views concerning the role of European financial markets in funding of the next generation of corporations which will promote to future economic growth and job creation.
On Saturday, Keravnos will participate in the next Ecofin working session which will discuss the role of fiscal policy in overall stabilisation policies on a longer term perspective.