Luxembourg Calls for Stronger Innovation & Competitiveness at Eurogroup and ECOFIN Meetings

On Thursday 13 November 2025, Luxembourg’s Ministry of Finance reported that Minister of Finance Gilles Roth had travelled to Brussels to take part in the Eurogroup and Economic and Financial Affairs Council (ECOFIN) meetings on Wednesday 12 and Thursday 13 November 2025.

According to the ministry, Eurogroup finance ministers discussed the latest macroeconomic developments, as well as competitiveness and innovation within the euro area in a rapidly changing global environment. They also exchanged views on the policy priorities underpinning the 2026 euro area economic recommendations. In addition, ministers met with representatives of the Single Supervisory Mechanism (SSM) and the Single Resolution Board (SRB) to review recent developments in the Banking Union, before concluding with a discussion on the future of digital finance.

During the ECOFIN meeting, finance ministers continued their exchange on developments linked to the war against Ukraine and on international progress concerning Pillar 2. The ministry added that Commissioners Maria Luís Albuquerque and Valdis Dombrovskis presented their annual reports on administrative simplification. Ministers also approved amendments to several national recovery and resilience plans, including that of Luxembourg.

Finance ministers further held an exchange on free trade with their counterparts from the member countries of the European Free Trade Association (EFTA).

Minister Roth stated: “It is essential that Europe strengthens its efforts in technological innovation and administrative simplification in order to ensure its competitiveness. The Union of Savings and Investments will be key in this respect. This is how we strengthen our growth. This is how we consolidate our economic sovereignty and our resilience. Only a strong economy will lead us to a strong Europe.”

The ministry also noted that, on the margins of the meetings, Minister Roth met bilaterally with European Commissioner for Financial Services Maria Luís Albuquerque, during which he reiterated Luxembourg’s position on the supervisory architecture in Europe.