Eurogroup and Economic and Financial Affairs Council meetings, 17 and 18 February 2020

Executive Vice-President Valdis Dombrovskis and Commissioner Paolo Gentiloni will represent the Commission at this week’s Eurogroup and Economic and Financial Affairs Council (ECOFIN) meetings. At the Eurogroup meeting beginning today, the Commission will present its priorities for Europe’s Economic and Monetary Union, the Winter 2020 Economic Forecast and the main findings of the 12th post-programme surveillance mission to Ireland. The Commission will present its review on the effectiveness of the economic surveillance framework, which will also be discussed at the ECOFIN.The Eurogroup will discuss the draft Recommendation on the economic policy of the euro area, which will go forward for approval at the ECOFINthe following day. It will also exchange views on the tax wedge on labour, focusing on shifting tax from labour to other forms of taxation. The Eurogroup will then continue in an inclusive format to follow up on the December 2019 Euro Summit on further strengthening Europe’s Economic and Monetary Union. These discussions will focus on the report on possible intergovernmental agreement for the Budgetary Instrument for Convergence and Competitiveness (BICC). Commissioner Paolo Gentiloni will participate in the press conference following the meeting. On Tuesday, the ECOFIN will adopt a revised list of non-cooperative tax jurisdictions. This update follows a detailed dialogue with jurisdictions around the world that are committed to meeting EU good governance tax standards. The EU list tests the compliance of countries against three criteria: tax transparency, fair taxation and real economic activity (anti-BEPS measures). The ECOFIN will also adopt conclusions on the Commission’s Annual Sustainable Growth Strategy. Finally, Ministers will prepare for the upcoming G20 finance meetings in Riyadh, Saudi Arabia. Executive Vice-President Valdis Dombrovskis will participate in the press conference following the meeting