Eurogroup ministerial photo in Brussels, Belgium;
Credit: Council of European Union
Luxembourg's Minister of Finance, Gilles Roth, participated in the Eurogroup and Economic and Financial Affairs Council (ECOFIN) meetings, held in Brussels, Belgium, on Monday 9 and Tuesday 10 December 2024.
As reported by Luxembourg's Ministry of Finance, the Eurogroup ministers had a productive economic dialogue with the British Chancellor of the Exchequer Rachel Reeves, aimed at deepening European trade relations with the United Kingdom.
Minister Roth commented: "I had fruitful discussions with British Chancellor Rachel Reeves. Our exchange on relations between the European Union and the United Kingdom was very constructive. Luxembourg remains committed to a close partnership with London. We share common values, convictions and interests."
The Eurogroup met to discuss the budgetary situation of the Member States and the macroeconomic implications for the monetary union. In a rapidly changing global economic context, the finance ministers stressed the importance of close coordination of fiscal policies to maintain stability and promote sustainable growth in the euro area.
The ministry added that the discussions were enriched by an exchange session with representatives of the International Monetary Fund (IMF), who presented the preliminary findings of their annual assessment of the euro area, known as Article IV. This assessment provides an independent perspective on the economic performance of the euro area and on the policies needed to address the challenges ahead.
The ECOFIN meeting saw ministers discuss the Customs Union reform package, the revision of the Energy Taxation Directive and the implementation of the European fiscal framework. The 27 ministers also took stock of the economic and financial impact of Russia's war of aggression against Ukraine.
On the sidelines of these meetings, Luxembourg's Finance Minister met his German counterpart, Jörg Kukies, to discuss the issue of taxing overtime for cross-border workers, among other things.
