Luxembourg Welcomes Agreement on European Financial Market Integration at Ecofin

On Friday 9 October 2026, Luxembourg's Ministry of Finance reported on the attendance of Minister of Finance Gilles Roth at the meetings of the Eurogroup and the Economic and Financial Affairs Council (Ecofin) in Luxembourg, which took place from Thursday 8 to Friday 9 October.

According to the ministry, during the Eurogroup meeting, the Finance Ministers reviewed the progress made in developing the Capital Markets Union, taking note of the European Commission's assessment and sharing initiatives and good practices implemented at national and regional levels.

In addition, the Finance Ministers discussed ways to strengthen the effectiveness and efficiency of public finances, particularly through better quality of expenditure, more efficient use of resources and more effective revenue systems, while preserving fiscal sustainability. They also examined developments in energy markets and their implications for the euro area's macroeconomic and structural policies.

During the Ecofin Council meeting, Minister Roth welcomed the political agreement reached on strengthening the integration of European financial markets. This agreement represents an important step towards a genuine Savings and Investments Union.

Minister Roth commented: "This is a win-win compromise. We have succeeded in preserving the competitiveness, agility and specific characteristics of European financial markets, while strengthening the integration of these markets. Luxembourg and Europe need more investment, innovation and growth. This agreement allows us to move forward together. In everyone's interest."

Furthermore, the Finance Ministers exchanged views on the competitiveness of the European banking sector and the state of progress in implementing the Recovery and Resilience Facility. They also examined the economic and financial consequences of Russia's aggression against Ukraine.

Finally, the Council prepared for the upcoming annual meetings of the World Bank Group, the International Monetary Fund (IMF) and the G20 Finance Ministers, which will take place next week in Bangkok.