(Centre, L-R) Gilles Roth, Luxembourg's Minister of Finance; Eelco Heinen, Minister of Finance of the Netherlands; Credit: Council of the European Union

On Monday 20 and Tuesday 21 January 2025, Luxembourg Finance Minister, Gilles Roth, participated in the meetings of the Eurogroup and the Economic and Financial Affairs Council (Ecofin) in Brussels.

As reported by Luxembourg’s Ministry of Finance, a discussion took place on Monday, during the Eurogroup meeting, on the priorities and challenges for the euro area in the new European policy cycle. In addition, the members of the Eurogroup exchanged thoughts on the use of innovative technologies in the processing of wholesale transactions.

During a dinner hosted by the Polish Presidency of the Council of the European Union that evening, EU Finance Ministers informally discussed the strategic issues facing the European Union, including energy considerations.

The following day, during the Ecofin Council meeting, the Polish Presidency presented its work programme and priorities for the next six months, focusing primarily on security-related aspects. Finance Ministers also discussed a more competitive environment for businesses globally by potentially reducing the regulatory burden.

In the framework of the 2025 European Semester, the Council endorsed recommendations for the first national medium-term budgetary and structural plans. In addition, Finance Ministers adopted recommendations on excessive deficits for Member States which have exceeded the ceilings of the Stability and Growth Pact. The Council, along with Ukrainian Finance Minister Sergii Marchenko, also took stock of the economic and financial repercussions of Russia's aggression against Ukraine.

Following these first meetings of the year, Minister Roth said: "I would first like to wish our Polish colleagues the best for their presidency of the Council of the European Union. It is important that Europe remains united and that we continue to coordinate our actions in the face of today's major challenges."

On the sidelines of the meetings, Minister Roth took the opportunity to meet with his Belgian counterpart and Deputy Prime Minister, Vincent Van Peteghem.