Preparation of the Economic and Finance Ministers Council (ECOFIN)

On 19 June in Luxembourg, Vice-President Dombrovskis, Vice-President Katainen, Commissioner Moscovici and Commissioner Hill will participate in the EU’s Council of Economic and Finance Ministers. On the legislative front, the Ministers are due to agree on the final text for a Regulation on the European Fund for Strategic Investments (EFSI) as agreed in the final trilogue on 28 May. The European Parliament plenary vote on the Regulation is due to take place on 24 June, allowing the EFSI to be operational by September as planned. The Council will exchange views on the implementation of the draft 2015 country-specific recommendations, which the Commission adopted on 13 May. Ministers will discuss the proposal for a mandatory automatic exchange of tax rulings presented by the Commission in March this year. The Council will discuss the future work on this file. The Commission will present its Action Plan for Fair and Efficient Corporate Taxation which was adopted yesterday by the College. Also on the agenda is a general approach on the Commission’s proposal on structural measures improving the resilience of EU credit institutions.Ministers will discuss the implementation of national transposition measures for the legal instruments underpinning the Banking Union. In particular, the Commission will call on Ministers to accelerate the implementation of the Bank Recovery and Resolution Directive (BRRD) into their national laws. Finally, Ministers are expected to adopt conclusions on the European Commission’s project for a Capital Markets Union.