20.06.2013

The Minister of Finance Petar Chobanov will take part in the Economic and Financial Affairs (ECOFIN) Council meeting on 21 June 2013 in Luxembourg. The agenda includes an approval of draft Council Recommendations on the National Reform Programmes 2013 to each Member State and draft Council Opinions on the updated Stability or Convergence Programmes.

The Finance Ministers are expected to reach political agreement on the measures fighting VAT fraud, including a proposal for a quick reaction mechanism. The meeting will endorse a Report by Finance Ministers on tax issues in the framework of the Euro Plus Pact and an ECOFIN Report to the European Council on tax issues. A Proposal for a Directive of the European Parliament and of the Council establishing a framework for recovery and resolution of credit institutions and investment firms will also be discussed at the meeting.

The EU Finance Ministers will discuss draft Council decisions and recommendations on the excessive deficit procedures within the Stability and Growth Pact. A discussion of and a proposal for a Council Implementing Decision on granting Union financial assistance to Ireland and Portugal is also expected. A draft Recommendation by the euro area Member States on the Commission proposal on the adoption of the euro by Latvia will also be submitted for approval.