Eurogroup, 03/12/2018
Agenda highlights
The Eurogroup will first meet in regular format at 13.00h and afterwards come together for a Eurogroup meeting in inclusive format, starting at 16.00h.
Regular format
Assessment of member states’ draft budget plans
The Eurogroup will discuss the overall budgetary situation and prospects in the euro area and conduct the review of the economic and fiscal situation of the member states concerned.
This discussion is based on Commission opinions on the draft budgetary plans of the 19 euro area member states and on the Commission Communication on its overall assessment of the DBPs.
The outcome of this discussion is expected to be reflected in a Eurogroup statement.
Post-programme surveillance of member states
Greece
The European Commission will present to ministers the first enhanced surveillance report for Greece.
The Commission adopted a decision on 11 July to activate the enhanced surveillance framework for Greece, which entered into force following the end of the ESM programme, in August 2018.
The quarterly enhanced surveillance reports enable close monitoring of the economic, fiscal and financial situation and the post-programme policy commitments, as agreed by the June 2018 Eurogroup.
Cyprus
The Eurogroup will be orally debriefed by the European Commission and the ECB on the main findings of the fifth post-programme surveillance mission to Cyprus carried out between 24-28 September. The ESM will also debrief the Eurogroup on its early warning system. The IMF conducted an Article IV mission in parallel.
Spain
The Eurogroup will be orally debriefed by the European Commission and the ECB on the main findings of the tenth post-programme surveillance mission to Spain carried out on 4-5 October. The ESM will also debrief the Eurogroup on its early warning system.
Post-programme surveillance (PPS) starts automatically after the end of financial assistance programmes and continues until at least 75% of the financial assistance received has been repaid. PPS is biannual in terms of reporting and missions.
IMF Article IV interim mission to the euro area
The IMF will present its main findings from its euro area Article IV interim mission.
The IMF conducts an annual consultation on euro area policies with an interim mission usually around the end of the year and a final mission in late spring. Findings are customarily discussed with the Eurogroup.
Draft Eurogroup work programme for the first semester of 2019
The Eurogroup will also adopt its work programme for the first half of 2019.
Inclusive format
Deepening EMU – Preparation of the December Euro Summit
The Eurogroup in inclusive format will prepare the Euro Summit that will take place on 14 December, which is expected to take concrete decisions and provide guidance on the way forward on EMU deepening.
Following the mandate received by EU leaders at the June Euro Summit, finance ministers have been advancing work on all the items mentioned in the June letter by the Eurogroup President to the President of the European Council. On 3 December, the Eurogroup in inclusive format will prepare the reporting to the December Euro Summit.
