The Financial Secretary to the Treasury (Nicky Morgan)
A meeting of the Economic and Financial Affairs Council was held in Brussels on 8 July 2014. Ministers discussed the following items:
Level 2 legislation on bank contributions under bank recovery and resolution directive and the single resolution mechanism
The Commission briefed the Council on the preparation of implementing legislation that will determine the contributions to be paid by banks to resolution funds established under the directive on bank recovery and resolution (BRRD) and the regulation on the single resolution mechanism (SRM).
Presentation of the Italian presidency work programme
The incoming Italian presidency presented its work programme for economic and financial affairs, and the Council adopted a statement on economic growth and reform.
Review of the EU 2020 strategy
Council held an initial discussion as part of a mid-term review of the Europe 2020 strategy.
Savings taxation: update on negotiations with third countries
Following agreement on the amended savings taxation directive, the Commission updated the Council on third country negotiations on the directive between the EU and Switzerland, Liechtenstein, Andorra, Monaco and San Marino.