ECOFIN

George Osborne Excerpts

Monday 15th July 2013 Written Statements

[The Chancellor of the Exchequer (Mr George Osborne)]

A meeting of the Economic and Financial Affairs Council was held in Brussels on 9 July 2013. The following items were discussed.

Presentation of the Lithuanian Presidency Work Programme

The presidency outlined its work programme on economic and financial matters for July to December 2013.

Follow-up to the European Council on 27-28 June 2013

ECOFIN held an exchange of views on the follow-up to the June European Council.

Adoption of the euro by Latvia

ECOFIN adopted the legal acts enabling Latvian accession to the euro in January 2014.

Implementation of the two-pack

Ministers endorsed the code of conduct for the euro area member states on draft budgetary plans and on content and scope of the reporting obligations for euro area member states subject to an excessive deficit procedure.

Follow-up to G20 Finance Deputies meeting on 6-7 June (St Petersburg) and preparation of G20 Meeting of Finance Ministers and Governors of 19-20 July (Moscow)

Council agreed the EU terms of reference for the forthcoming G20 Finance Ministers’ and Central Bank Governors’ meeting. The presidency and the Commission reported back to Council on the meeting of the G20 Finance Deputies meeting on 6-7 June.

Any other business—Current legislative Proposals

The presidency updated Council that provisional agreement had been reached with the European Parliament on the market abuse directive/market abuse regulation.