Highlights of the Ecofin Council
EU News 165/2015
Council of the European Union
Banking structural reform
The Council agreed its negotiating stance on structural measures to improve the resilience of EU credit institutions.
The proposal is aimed at strengthening financial stability by protecting the deposit-taking business of the largest and most complex EU banks from potentially risky trading activities.
Capital markets union
The Council adopted conclusions backing the Commission's plans for the development of a capital markets union in the EU.
A variety of measures are planned to strengthen capital markets in Europe so as to attract more investment for companies and for infrastructure projects. Improving access to finance for SMEs and start-ups, especially in innovative industries, is one of the main objectives.
The Commission is expected to publish an action plan in autumn 2015.
Deficits, economic policies, investment, taxation
The Council closed excessive deficit procedures for Malta and Poland and issued a new recommendation to the United Kingdom on measures to correct its deficit.
It approved country-specific recommendations on economic and fiscal policies, and a recommendation for the euro area.
Ministers discussed next steps in the establishment of a European fund for strategic investment, part of the EU action plan on investment, following approval by the Council of a political agreement with the European Parliament.
Source and additional information:
3399th ECOFIN Council. Roundtable and press conference. From left to right: Mr Jonathan HILL, Member of the European Commission; Mr Valdis DOMBROVSKIS, Vice President of the European Commission; Mr Janis REIRS, Latvian Minister for Finance. Shoot location: Luxembourg - LUXEMBOURG Shoot date: 19/06/2015 (C)EU, 2015 URL