The Chancellor of the Exchequer (Mr Philip Hammond)
A meeting of the Economic and Financial Affairs Council (ECOFIN) will be held in Brussels on 5 December. EU Finance Ministers will discuss the following items:
Early morning session
The Eurogroup President will brief Ministers on the outcomes of the 4 December meeting of the Eurogroup, and the Commission will provide an update on the current economic situation in the EU. The Chair of the European Fiscal Board (EFB) will present the EFB’s annual report followed by an exchange of views.
Strengthening of the Banking Union
The Council will be invited to take note of both the presidency progress report on the European Deposit Insurance Scheme and information from the Commission on the state of play of the action plan to tackle non-performing loans in Europe. ECOFIN Council will also hold a policy debate on the banking risk reduction package.
Current financial services legislative proposals
The Council presidency will provide an update on current legislative proposals in the field of financial services.
VAT administrative co-operation
The Commission will provide information on new proposals relating to VAT administrative co-operation measures.
Council conclusions on “The EU list of non-co-operative jurisdictions for tax purposes”
The Council will be invited to adopt Council conclusions which include the finalised EU list of non-co-operative jurisdictions for tax purposes.
Council decisions on the implementation of the stability and growth pact
Ministers will be invited to adopt a Council decision to close the UK’s excessive deficit procedure (EDP) and a decision and recommendation on Romania’s compliance with the EU’s fiscal rules.
European Semester 2018
The Commission will present the annual growth survey 2018, the alert mechanism report 2018 and a recommendation for a Council recommendation on the economic policy of the euro-area. Ministers will provide their initial reactions.
EIB proposal to establish a European Development Bank
Ministers will receive information on an EIB initiative to create a subsidiary dedicated to development.
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