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Bucharest
8 December 2019
Economic and financial affairs News

The Romanian Presidency of the Council of the EU has obtained a political agreement with the European Parliament on 9 files related to the Capital Markets Union

In today’s meeting of the Economic and Financial Committee (EFC) of the European Union, Secretary of State in the Ministry of Public Finance Mihai-Eleodor Mandreș presented the main topics to be covered in the informal meeting of the Economic and Financial Affairs Council (ECOFIN), which will take place in Bucharest, on April 5-6, 2019. The agenda of the informal meeting included debates on the future EU Multiannual Financial Framework, on the financing priorities in the next institutional cycle, on the road to follow towards the Capital Markets Union, on labour taxation, on the role of taxation in fostering economic growth, as well as on the preparation work related to the IMF and the G20 meetings to take place in Washington, on April 11-14, 2019.

The EFC agenda also included items such as the outcomes of the latest meeting of the Financial Services Committee, the report of the president of the Economic Policy Committee (EPC) on the country-specific output gaps and preparatory work for the annual EBRD meeting, to be held in Sarajevo, in May 2019.

In his address, Secretary of State Mihai-Eleodor Mandreș underlined the considerable progress made in the area of the Capital Markets Union under the Romanian Presidency of the Council of the EU. “In almost three months of our term, we have succeeded in obtaining the EP’s political agreement on 9 files related to the Capital Markets Union. Negotiations on 4 other files are ongoing. I would like to thank all the stakeholders for their intensive work pace, as this constructive approach that has yielded tangible outcomes”, stated the Romanian dignitary.

The EFC debates were informed by the European Commission Communication on “Capital Markets Union: progress on building a Single Market for capital for a strong Economic and Monetary Union, published on March 15, 2019.

NOTE: The Economic and Social Committee is set up to promote internal market policy coordination among the Member States, by contributing to the preparatory work for the Council of the EU or by providing reports to the Council of the EU or the European Commission on the Member States’ economic and financial situation. The EFC is composed of senior officials from national ministries of finance and central banks, the European Central Bank and the Commission.

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