ECOFIN: 20 February 2018

Treasury written statement – made on 6th March 2018.

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Photo of Philip Hammond Philip Hammond The Chancellor of the Exchequer

A meeting of The Economic and Financial Affairs Council (ECOFIN) was held in Brussels on 20 February 2018. The UK was represented by Mark Bowman (Director General, International and EU, HM Treasury). EU Finance Ministers discussed the following:

Early Morning Session

The Eurogroup President briefed Ministers on the outcomes of the 19 February meeting of the Eurogroup, and the Commission provided an update on the current economic situation in the EU. Ministers also discussed developments regarding United States tax reform.

Appointment of the Vice President of the European Central Bank

The Council agreed a recommendation confirming the nomination of Luis de Guindos as vice-president of the European Central Bank.

Financial Services Legislation

The Bulgarian Presidency provided an update on current legislative proposals in the field of financial services.

Sustainable Finance

The Council exchanged views on the recommendations of the High-Level Expert Group on Sustainable Finance.

Discharge of the 2016 EU Budget

Ministers approved a Council recommendation to the European Parliament on the discharge to be given to the Commission in respect of the implementation of the 2016 EU budget.

EU Budget guidelines for 2019

Ministers adopted Council conclusions on the guidelines for the 2019 budget, which will serve as a point of reference in the forthcoming budgetary cycle.

Public Procurement and Strategic Investment

The Commission presented information on the public procurement strategy it adopted on 03 October 2017.

This statement has also been made in the House of Lords: HLWS499