Eurogroup meeting, 4 April 2022

Summary:

A meeting of the Eurogroup was held on 4 April 2022. The agenda included the following items:

• Discussion on the economic developments resulting from Russia's invasion of Ukraine;
• Exchange of views on global economic developments, risks and policy challenges, as well as exchange rate developments, in preparation of forthcoming international meetings;
• Discussion on privacy considerations related to a digital Euro and how they relate to other policy objectives, based on input prepared by the ECB;
• Discussion on housing market developments, focused on housing affordability issues, based on a Note from the European Commission;
• Update on the supervisory tasks carried out by ECB Banking Supervision;
• Update on the latest activities undertaken by the Single Resolution Board (SRB).

At the margins of this meeting, Spain and the Netherlands presented a joint paper addressing the priorities for 2022 when it comes to the European Union's economic and financial policy agenda. The paper calls for a renewed EU Fiscal Framework.

Official

Eurogroup: Remarks by Paschal Donohoe following the Eurogroup meeting of 4 April 2022 https://www.consilium.europa.eu/en/press/press-releases/2022/04/04/remarks-by-paschal-donohoe-following-the-eurogroup-meeting-of-4-april-2022/

Single Resolution Board (SRB): SRB Bi-annual reporting note to Eurogroup (EG) https://www.consilium.europa.eu/media/55328/srb-bi-annual-reporting-note-2022.pdf

Written overview ahead of the exchange of views of the Chair of the Supervisory Board of the ECB with the Eurogroup on 4 April 2022 https://www.consilium.europa.eu/media/55338/2022-04-04-sb-chair-exchange-of-views-eurogroup-written-overview-_revised.pdf

Dutch Government: Joint paper by Spain and The Netherlands on priority issues in 2022 on the EU’s economic and financial policy agenda (April 2022) https://www.government.nl/ministries/ministry-of-finance/documents/publications/2022/04/04/joint-paper-eurogroup-es-nl

European Commission: Remarks by Commissioner Gentiloni at the Eurogroup press conference (4 April 2022) https://ec.europa.eu/commission/presscorner/detail/en/speech_22_2276

Irish Government: Press Release, 04/04/2022: Eurogroup to discuss impact of Ukraine war on economic outlook, housing, digital euro and banking union https://www.gov.ie/en/press-release/4e30d-eurogroup-to-discuss-impact-of-ukraine-war-on-economic-outlook-housing-digital-euro-and-banking-union/

Dutch Government: News, 04/04/2022: Spain and The Netherlands call for a renewed EU Fiscal Framework fit for current and future challenges https://www.government.nl/latest/news/2022/04/04/spain-and-the-netherlands-call-for-a-renewed-eu-fiscal-framework-fit-for-current-and-future-challenges

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News

Politico, 04/04/2022: In a twist, the Netherlands and Spain partner up on fiscal rules https://www.politico.eu/article/unlikely-spain-netherlands-duo-fiscal-rules/

Politico, 04/04/2022: Austria rejects sanctions against Russian oil, gas https://www.politico.eu/article/austria-rejects-sanctions-against-russian-oil-gas/

EurActiv, 05/04/2022: Spain, Netherlands propose ideas to reform EU fiscal rules https://www.euractiv.com/section/economy-jobs/news/spain-netherlands-propose-ideas-to-reform-eu-fiscal-rules/

The Local (Austria), 05/04/2022: Austria rejects embargo on Russian gas https://www.thelocal.at/20220405/austria-rejects-embargo-on-russian-gas/

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