Credit: MFIN

On Tuesday 13 and Wednesday 14 August 2024, Luxembourg’s Minister of Finance, Gilles Roth, participated in this year’s meeting of German-speaking finance ministers in Lochau on Lake Constance in Austria.

The meeting in the state of Vorarlberg was hosted by the Federal Minister of Finance of Austria, Magnus Brunner.

"Together we want to strengthen Europe as a business location. We want to create new trust and show new perspectives. With a financial policy that makes our continent more competitive in the global environment. And thus creates the basis for sustainable and inclusive growth and prosperity for all. In the interests of our citizens and companies. We want to consistently continue the success story of the social market economy. Without competitiveness there is no future viability," concluded Minister Roth after the meeting.

Other participants included the Federal Councillor and Head of the Federal Department of Finance, Karin Keller-Sutter, the German Federal Minister of Finance, Christian Linder, and the Prime Minister and Minister for Government Affairs and Finance of the Principality of Liechtenstein, Daniel Risch. Luxembourg was represented for the first time in this format by Finance Minister Gilles Roth.

In a joint declaration, the "Bodensee Declaration", the financial politicians advocated strengthening Europe's competitiveness and the European capital markets. Strengthening competitiveness was also the subject of a working session and a subsequent press conference.

Another working session dealt with the financing of the climate and energy transition, Luxembourg’s Finance Ministry confirmed. The economic policy consequences of climate change were discussed in more detail with the economist and climate expert Gernot Wagner. Other focal points of this year's meeting in a productive and collegial atmosphere were the tense geopolitical situation in Europe and the world and the informal political exchange in small groups.

The next meeting of the German-speaking finance ministers is set to take place in Luxembourg in 2025.