ECOFIN

Elizabeth Truss Excerpts

Tuesday 18th July 2017 Written Statements

[The Chief Secretary to the Treasury (Elizabeth Truss)]

A meeting of the Economic and Financial Affairs Council (ECOFIN) was held in Brussels on 11 July 2017. The UK was represented by Sir Tim Barrow (Permanent Representative of the United Kingdom to the European Union). European Finance Ministers discussed the following items:

Early morning session

The Eurogroup President briefed Ministers on the outcomes of the 10 July meeting of the Eurogroup, and Ministers discussed the current economic situation.

Current financial service legislative proposals

The Council presidency provided an update on current legislative proposals in the field of financial services.

Mandatory disclosure rules

The Commission gave a presentation on the proposal for a Council directive amending directive regarding the mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements.

Presentation of the work programme of the Estonian presidency

The new Estonian presidency of the Council of the European Union presented their work programme for the next six months period.

Commission mid-term review of the capital markets union action plan

The Council endorsed Council conclusions on the mid-term review of the capital markets union action plan.

Non-performing loans

ECOFIN held an exchange of views on policy responses to the non-performing loans situation and endorsed Council conclusions.

[HCWS66]