| ● Council of the EU | | | 26/06/2026 12:22 | Press release | | | | | Today, member states agreed the Council’s negotiating position on the European grids package, comprising a revision of the trans-European energy infrastructure (TEN-E) regulation and a permitting directive. The package aims to address the urgent need to modernise and expand Europe’s energy infrastructure in order to accelerate electrification and decarbonisation. The Council’s position focuses on improving cross-border energy infrastructure planning, streamlining and accelerating permit-granting, and ensuring a more secure and resilient energy network. “Today’s agreement paves the way for Europe’s electrification and towards achieving climate neutrality. By fast-tracking permitting and enhancing interconnections – including ending energy isolation for member states – we are securing affordable, clean energy and bolstering energy security for all European citizens. By delivering on this important and strategic package, the Cyprus presidency has put in practice the motions of its motto ‘An autonomous Europe, open to the world’.” | | — Michael Damianos, Minister for Energy, Commerce and Industry of the Republic of Cyprus |
Energy infrastructure planning: a coordinated approachThe Council supports a common framework for network development planning across the electricity, hydrogen and gas sectors. This would involve a central scenario to be developed by the Commission and based on input from member states and stakeholders, in order to identify and address long-term infrastructure gaps and bottlenecks. The Council’s position clarifies that the central scenario will take into account national energy and climate plans, regional specificities, and disparities in energy prices. It will be accompanied by sensitivity analyses conducted every two years to address market developments and pressing needs in energy infrastructure. Use of congestion income for better interconnectionsMember states agreed to reinvest a portion of unspent congestion income – funds from grid bottlenecks between different areas where electricity is traded, also known as bidding zones – into cross-border projects aimed at reducing congestion, in order to ensure their predictable funding. According to the Council’s position, this rule does not apply to income from bidding zone borders within a country or funds collected before the regulation enters into force. A phased increase in the congestion income allocation is also introduced (5 percentage points per year), starting at 10% as of 1 January 2028, until it reaches 25% by 2031. If not spent, such funds will be made available after eight years for member states to use them according to EU existing rules on electricity market. Security and resilienceRecognising the increasing number of intentional disruptions (sabotage, physical or cyber-attacks), energy ministers established a new category of priority projects dedicated to security and resilience of the existing electricity infrastructure. This will enable funding for critical components for emergency repairs of electricity interconnectors. Faster permitting Energy ministers endorsed the need for faster and more transparent permitting procedures, including the creation of digital portals for simplified applications and designating electricity and renewable energy projects as being of overriding public interest(unless proven otherwise), prioritising their approval. To further expedite the process, member states may decide that a lack of reply from authorities in intermediary steps of permit granting is deemed as tacit approval. Member states will endeavour to avoid the exclusion of renewable energy development in large areas, to accelerate the rollout of renewables through a streamlined and simplified procedure. The Council’s position also includes measures on citizens engagement in renewables projects, such as promoting dialogue through an independent facilitator and benefit-sharing to nearby local communities. Next stepsThe Council, under the Irish presidency, will initiate negotiations with the European Parliament, once the latter adopts its position. The aim is to reach a final agreement on the legislation as soon as possible in 2026. BackgroundThe European grids package was proposed by the European Commission in December 2025, to address the low interconnectivity among member states and to make the EU’s energy network fit for climate neutrality. The European Council, in its conclusions of 19 March 2026, called “on the co-legislators to agree, in 2026, an ambitious grids package”. The package is also included in the “One Europe, One Market” roadmap aiming to boost competitiveness and reduce energy prices.
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| ● Council of the EU | | | 25/06/2026 19:47 | Press release | | | | | The Council renewed today the EU restrictive measures in view of the Russian Federation’s continuing actions destabilising the situation in Ukraine for a further 12 months, until 31 July 2027. The decision follows the European Council on 18-19 June 2026, where EU leaders agreed to extend the economic sanctions against Russia for twelve months. These economic measures, first introduced in 2014, were significantly expanded since February 2022 in response to Russia’s unprovoked, unjustified and illegal military aggression against Ukraine. Existing measures cover key sectors, including trade, finance, energy, and dual-use technology. They also cover a ban on the import or transfer of seaborne crude oil and certain petroleum products from Russia to the EU, transaction ban on several financial institutions and crypto service providers in Russia and in 3rd states and the suspension of the broadcasting activities and licenses in the European Union of several Kremlin-backed disinformation outlets. Additionally, specific measures enable the EU to counter sanctions circumvention. The EU will keep the current measures in place and stands ready to take additional measures as long as the Russian Federation continues its illegal actions and violations of the fundamental rules of international law, including, in particular, the prohibition on the use of force. BackgroundOn 31 July 2014, the Council adopted Decision 2014/512/CFSP concerning restrictive measures in view of Russia's actions destabilising the situation in Ukraine. In addition to the economic sanctions on the Russian Federation, the EU has in place different types of measures in response to Russia’s destabilising actions against Ukraine. These include: restrictions on economic relations with the illegally annexed Crimea and the city of Sevastopol as well as the non-government controlled areas of Ukraine in the oblasts of Donetsk, Kherson, Luhansk, and Zaporizhzhia; individual restrictive measures (asset freezes and travel restrictions) on a broad range of individuals and entities, and diplomatic measures. Since 24 February 2022, the EU has adopted 20 unprecedented and hard-hitting packages of sanctions in response to Russia’s full-scale invasion of Ukraine. In its conclusions of 18 June 2026, the European Council reaffirmed its continued firm and unwavering support for Ukraine’s independence, sovereignty and territorial integrity within its internationally recognised borders. The EU will continue to provide, in coordination with like-minded partners and allies, comprehensive political, financial, economic, humanitarian, military and diplomatic support to Ukraine and its people. The European Council also stated that the EU remains determined to further increase pressure on Russia and continue weakening Russia’s war economy so that it stops its brutal war of aggression and engages in meaningful negotiations towards peace. It reiterated the importance of further reducing Russia’s energy revenues, curbing its shadow fleet operations and further constraining its banking system, and called for the swift adoption of the 21st sanctions package. The European Council supports diplomatic efforts to bring Russia’s war of aggression to an end and underlines the EU’s readiness to step up its engagement in that context, in accordance with the EU’s aim to promote peace, as enshrined in the Treaties. Europe has a key role to play in a future settlement and stands ready to defend its interests.
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| ● Council of the EU | | | 25/06/2026 20:47 | Meetings | | | | | Environment ministers discussed progress on the amendment of the regulation on CO2 emission standards for cars and vans, the role of a nature as an economic asset and the way forward on the water resilience strategy and the REACH regulation.
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| ● General Secretariat of the Council | | | | | | Discover our selection of books recently added to the Council Library collection.
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| ● Συμβούλιο της Ευρωπαϊκής Ένωσης | | | 26/06/2026 09:32 | Συνεδριάσεις | | | | | Οι υπουργοί Απασχόλησης και Κοινωνικών Υποθέσεων της ΕΕ αναμένεται να εγκρίνουν συμπεράσματα του Συμβουλίου σχετικά με την κυβερνοβία κατά των κοριτσιών και τη σχέση μεταξύ δημογραφικών τάσεων και στεγαστικής πολιτικής. Θα ανταλλάξουν επίσης απόψεις σχετικά με τη στεγαστική ασφάλεια για τους σπουδαστές και τα νοικοκυριά μεσαίου εισοδήματος, την προώθηση της δίκαιης κινητικότητας του εργατικού δυναμικού και τη στρατηγική της ΕΕ για την καταπολέμηση της φτώχειας.
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| ● Council of the EU | | | 26/06/2026 10:01 | Press release | | | | | The Council has reached an agreement on its partial negotiating position on the regulation and the specific programme of the Horizon Europe, the tenth EU framework programme for research and innovation. Horizon Europe is a key element of the next multiannual financial framework (MFF), the EU's seven-year spending plan. It is designed to drive scientific excellence, boost economic competitiveness, and tackle global societal challenges. Besides the proposed substantial budget increase by the Commission, the agreed Council position for Horizon Europe foresees a tight link with the EU’s competitiveness instrument in the next MFF, the European Competitiveness Fund (ECF), to facilitate a seamless investment support journey. The Council position is 'partial' because it excludes financial and horizontal issues, which are currently being discussed as part of the overall negotiations on the next MFF covering the period 2028 to 2034, as well as the elements linked to upcoming legislative initiatives regarding European Institute of innovation and technology (EIT) that would conclude the Horizon Europe (2028-2034) package. The provisional agreement refers to the two legislative proposals of the Horizon Europe package: the Regulation establishing the framework programme, as well as its rules for participation and dissemination, and the Council decision establishing the specific programme implementing Horizon Europe. “Research and innovation are among Europe’s greatest strategic assets. By investing in scientific excellence and turning breakthrough research into innovative products, technologies and industries, we strengthen Europe’s competitiveness, resilience and strategic autonomy. The Cyprus presidency delivered on Horizon Europe with this ambition, reinforcing its role as key instrument for securing Europe’s place at the forefront of global innovation and translating knowledge into tangible benefits for our economy, society and security.” | | — Nicodemos Damianou, Deputy Minister for Research, Innovation and Digital Policy of the Republic of Cyprus |
Main elements of the Council positionThe Council position reflects a balanced compromise across all major components of the framework programme. It reinforces the member states’ involvement in Horizon Europe’s strategic priority-setting, clarifies the close links with ECF as well as introduces improvements and additional assurances related to European Partnerships, research security, and support for innovation, including for dual use and defence applications. It also strengthens horizontal principles like gender equality, simplification measures for the benefit of the beneficiaries, as well as broad and diversified collaboration throughout the Union. A more coherent four pillar structureThe Council position introduces improvements in different elements of the four pillars of Horizon Europe, notably strengthening the Council and member states’ strategic role. Within Pillar I (Excellent Science), adjustments are made to the governance of the European Research Council and a focus on early-career researchers is added; Pillar II (Competitiveness and Society) provides further details on the ‘society’ component and maintains the balance between bottom-up research and policy priorities. A clear process is foreseen for the member states involvement in the priority setting of the entire pillar, most notably the European partnerships; Pillar III (Innovation) expands the European Innovation Council’s role, allowing for support of deep-tech innovation—including limited support to defence applications. Finally on Pillar IV (European Research Area) the agreement grants the Council a more prominent role in co-defining infrastructure support areas and further develops the framework for widening measures. Governance and priority setting modelThe governance model proposed by the Council’s position significantly enhances the Council and Member States’ role in shaping the strategic direction of Horizon Europe. Careful consideration has been given to ensuring coherence between Horizon Europe and the European Competitiveness Fund, particularly related to the collaborative research and innovation component, while preserving Horizon Europe's self-standing and excellence-driven nature. Clearer and stronger European partnershipsThe Council position clarified and strengthened provisions regarding European partnerships between the Union and public and/or private partners—such as industry associations, member states, universities, and foundations—to address European and global challenges, as well as to boost EU’s competitiveness. The Council and its advisory bodies will have a stronger role in identifying priority areas and shaping the strategic direction of partnerships. A stronger lifecycle approach covering the partnerships’ creation, monitoring, evaluation and phasing-out is proposed, while improving coherence with other Union programmes. Simplification measures through clearer rules of participationTo support simplification, the Council’s position clarifies eligibility and proposal evaluation rules, making participation in Horizon Europe more transparent and streamlined. Evaluation and implementation procedures aim to improve access, openness, and the impact of Union funding. Key measures include simplified cost options for the Marie Skłodowska-Curie Actions (MSCA), broader use of lump-sum funding, and reduced reporting requirements to lower the administrative burden and risk of errors. The text also simplifies the reimbursement of personnel costs through the use of personnel unit costs, helping participants reduce complexity and facilitate reporting. Research security and innovation for dual-use projects and defenceThe Council position establishes a robust and dedicated framework for identifying, assessing, and mitigating risks associated with research and innovation activities. It clarifies participation restrictions and safeguards through a risk-based and proportionate approach, thereby addressing security concerns while maintaining the openness of research and innovation to the greatest extent possible. Consistent with the Research Security approach and the need to preserve the predominantly civilian orientation of Horizon Europe, support under Pillar II for dual-use applications will be integrated by design from the outset. In addition, enhanced checks and balances are introduced for European innovation council’s support to dual-use and defence-related applications. Taken together, these measures ensure a robust, secure, and transparent framework for supporting critical, dual-use, and defence-related research and innovation activities. A progress-oriented widening approachThe Council position promotes sustained research and innovation convergence, building on the progress of widening countries (member states that lag behind in research and innovation performance) and transition countries (those catching up to exit the widening status). It sustains current widening instruments and allows for new measures to support the advancement of these member states. These provisions are part of the broader package balance, linked closely to ongoing negotiations on the wider Multiannual Financial Framework (MFF). Next stepsThe partial negotiating position serves as the Council's mandate to begin discussions with the European Parliament on Horizon Europe. The decision on the programme’s budget for 2028-2034 will depend on the final agreement on the next MFF. An agreement on the overall MFF by the end of 2026 would allow for the adoption of legislative acts in 2027 and ensure that EU funding reaches beneficiaries without interruption from January 2028. BackgroundThe next Horizon Europe programme was proposed by the Commission on 16 July 2025. Horizon Europe is a stand-alone programme that is closely linked to the European Competitiveness Fund (ECF). The programme is built on four pillars: - Pillar I will focus on excellence in science by expanding the European Research Council, supporting outstanding researchers and reinforcing the Joint Research Centre.
- Pillar II aims to boost collaborative research that supports EU competitiveness and addresses major societal challenges.
- Pillar III will enhance innovation by expanding the European Innovation Council to support high-risk, disruptive projects, including defence and dual-use startups.
- Pillar IV will advance a stronger European Research Area, including a reformed widening component and new support for research and technology infrastructures.
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| ● Council of the EU | | | 26/06/2026 10:14 | Press release | | | | | The Council today agreed its negotiating position on a review of the EU’s framework for occupational pension funds, also known as institutions for occupational retirement provision (IORPs). The IORP II directive governs the activities and supervision of such entities. Its review aims to enhance transparency of costs and returns for users, reinforce risk management in the area, and remove barriers, including cross-border barriers, currently hindering efficient investment in this area. Strengthening the IORP framework is a key deliverable of both the savings and investments union (SIU) agenda and the EU’s One Europe, One Market roadmap. It will also help to boost retirement income for citizens by fostering occupational pension provision at a time when EU demographic and labour market trends are challenging pension adequacy and sustainability of pension systems. “Increasing private participation in our capital markets is key to boosting the EU’s overall competitiveness. Strengthening occupational pensions will help us meet that challenge. Today’s agreement brings us a step forward in removing persistent barriers that hinder investment in this area, while contributing to more sustainable pension systems overall.” | | — Makis Keravnos, Minister of Finance of the Republic of Cyprus |
Key features of the Council’s positionThe Council preserves several core elements of the Commission’s initial proposal designed to upgrade the occupational pension framework, boost their cross-border activities and improve collaboration and information exchange among Member States’ competent authorities. It also retains the introduction of the ‘prudent person principle’, which ensures investments are made in accordance with appropriate risk levels, provisions related to multi-sponsor IORPs and multi-schemes operations, the proposed harmonised framework for collective domestic and cross-border transfers and the foundational business conduct rules proposed by the Commission. In line with its minimum harmonisation character and the strong call from member states to respect the specificities of national pension systems, the Council’s position preserves significant national discretion. In this context and to enhance flexibility, the Council made several targeted adjustments to the initial proposal. On scope, the Council allows member states to apply the directive to the IORP itself, the authorised entity operating it, or both, subject to legal separation of assets. At the same time, authorised entities established in another member state cannot be prevented from operating IORPs where national law permits. The text also establishes rules on such IORPs’ supervision, as well as regarding responsibilities and cooperation between competent authorities. To support investment in the real economy, the threshold for investing in shares and corporate bonds on regulated markets is raised to 100%, with member states remaining free to enforce more restrictive limits. The Council also introduces amendments to ensure proportionality in the areas of governance and supervision. Finally, in line with the overarching goal of reducing regulatory burdens and fostering simplification, the Council streamlines administrative procedures and disclosures. In this vein, provisions related to the transmission of information to pension tracking systems, assigning certain tasks to EU-level supervisory bodies and the introduction of supervisory dialogues between IORPs and authorities have been removed from the proposal. Next stepsThe negotiating position approved today is the Council's mandate to start talks with the European Parliament on the changes to the IORP II directive, once the Parliament has agreed its respective position on the review. BackgroundIORPs play an essential role in providing adequate and sustainable pensions, reducing pension gaps and preventing old-age poverty. In addition, as long-term institutional investors with almost €3 trillion in assets, IORPs are an important source of capital for the European economy to finance inclusive and sustainable growth. The IORP II Directive aims at ensuring that occupational pensions are sound and pension scheme members and beneficiaries are well protected.
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| ● Council of the EU | | | 26/06/2026 12:22 | Press release | | | | | Today, member states agreed the Council’s negotiating position on the European grids package, comprising a revision of the trans-European energy infrastructure (TEN-E) regulation and a permitting directive. The package aims to address the urgent need to modernise and expand Europe’s energy infrastructure in order to accelerate electrification and decarbonisation. The Council’s position focuses on improving cross-border energy infrastructure planning, streamlining and accelerating permit-granting, and ensuring a more secure and resilient energy network. “Today’s agreement paves the way for Europe’s electrification and towards achieving climate neutrality. By fast-tracking permitting and enhancing interconnections – including ending energy isolation for member states – we are securing affordable, clean energy and bolstering energy security for all European citizens. By delivering on this important and strategic package, the Cyprus presidency has put in practice the motions of its motto ‘An autonomous Europe, open to the world’.” | | — Michael Damianos, Minister for Energy, Commerce and Industry of the Republic of Cyprus |
Energy infrastructure planning: a coordinated approachThe Council supports a common framework for network development planning across the electricity, hydrogen and gas sectors. This would involve a central scenario to be developed by the Commission and based on input from member states and stakeholders, in order to identify and address long-term infrastructure gaps and bottlenecks. The Council’s position clarifies that the central scenario will take into account national energy and climate plans, regional specificities, and disparities in energy prices. It will be accompanied by sensitivity analyses conducted every two years to address market developments and pressing needs in energy infrastructure. Use of congestion income for better interconnectionsMember states agreed to reinvest a portion of unspent congestion income – funds from grid bottlenecks between different areas where electricity is traded, also known as bidding zones – into cross-border projects aimed at reducing congestion, in order to ensure their predictable funding. According to the Council’s position, this rule does not apply to income from bidding zone borders within a country or funds collected before the regulation enters into force. A phased increase in the congestion income allocation is also introduced (5 percentage points per year), starting at 10% as of 1 January 2028, until it reaches 25% by 2031. If not spent, such funds will be made available after eight years for member states to use them according to EU existing rules on electricity market. Security and resilienceRecognising the increasing number of intentional disruptions (sabotage, physical or cyber-attacks), energy ministers established a new category of priority projects dedicated to security and resilience of the existing electricity infrastructure. This will enable funding for critical components for emergency repairs of electricity interconnectors. Faster permitting Energy ministers endorsed the need for faster and more transparent permitting procedures, including the creation of digital portals for simplified applications and designating electricity and renewable energy projects as being of overriding public interest(unless proven otherwise), prioritising their approval. To further expedite the process, member states may decide that a lack of reply from authorities in intermediary steps of permit granting is deemed as tacit approval. Member states will endeavour to avoid the exclusion of renewable energy development in large areas, to accelerate the rollout of renewables through a streamlined and simplified procedure. The Council’s position also includes measures on citizens engagement in renewables projects, such as promoting dialogue through an independent facilitator and benefit-sharing to nearby local communities. Next stepsThe Council, under the Irish presidency, will initiate negotiations with the European Parliament, once the latter adopts its position. The aim is to reach a final agreement on the legislation as soon as possible in 2026. BackgroundThe European grids package was proposed by the European Commission in December 2025, to address the low interconnectivity among member states and to make the EU’s energy network fit for climate neutrality. The European Council, in its conclusions of 19 March 2026, called “on the co-legislators to agree, in 2026, an ambitious grids package”. The package is also included in the “One Europe, One Market” roadmap aiming to boost competitiveness and reduce energy prices.
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| ● Council of the EU | | | 26/06/2026 12:45 | Press release | | | | | The Council today agreed its partial negotiating position on a new framework to monitor, track and evaluate the performance of the next long-term EU budget for the period 2028-2034. The new legislation – known as the performance framework regulation – will make oversight, monitoring and reporting of the multiannual financial framework (MFF) simpler, more consistent and less burdensome. Overall, it aims to increase coherence between budgetary programmes, reduce complexity for beneficiaries, boost transparency and lower costs across the board. “Every budget needs appropriate oversight and evaluation. The MFF is no different. The new performance regulation is geared towards delivering maximum transparency, maximum accountability and maximum visibility for the EU budget. In short, it’s about making sure that it delivers for member states, regions, beneficiaries and citizens alike.” | | — Makis Keravnos, Minister for Finance of the Republic of Cyprus |
The negotiating position is 'partial' because it excludes certain horizontal issues currently being discussed as part of the negotiations on the overall multiannual financial framework (MFF) covering the period 2028 to 2034. In detail, the performance regulation: - sets out and aligns horizontal principles and targets across the EU budget, such as the ‘do no significant harm’ and gender equality principles, as well as climate and environmental targets
- harmonises the system for monitoring EU spending and measuring budget performance through, for example, streamlined indicators and coefficients, making it possible to aggregate data across programmes
- optimising budget performance reporting and the provision of information about funding opportunities across the EU budget, including through a new online ‘single gateway’
- laying down common rules applicable across the budget, such as on evaluation of programmes and activities, as well as on communication and visibility
Council positionOverall, the changes proposed by the Council’s partial negotiating mandate aim at providing legal certainty, operational stability and flexibility to member state authorities, while minimising administrative burden for all participants through simplification and reduced reporting requirements. Among other improvements, the Council strengthens monitoring of the ‘do no significant harm’ environmental principle for spending under the EU budget by tasking the Commission with defining a methodology for assessing compliance. To improve efficiency and cut down on administrative burdens, the text stipulates that reporting requirements for member states and funding recipients should be proportionate and in accordance with the ‘once-only principle’. Finally, the Council fine-tunes the list of intervention fields and indicators proposed by the Commission for monitoring and tracking across policy areas, making them more practical and useful for daily use by member states and beneficiaries. Next stepsThe partial negotiating position approved today is the Council's mandate to start negotiations with the European Parliament on the performance framework regulation. BackgroundFollowing the European Commission's initial proposals for the 2028–2034 period presented in July and September 2025, an EU agreement on the overall MFF by the end of 2026 would allow for the adoption of legislative acts in 2027. This is necessary to ensure that EU funding reaches beneficiaries without interruption from January 2028.
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| ● Eurogroup |
| 26/06/2026 13:38 | Statements and remarks | | | | | Prime Minister Magyar, Minister Kármán, Thank you very much for your warm welcome and hospitality. I am very pleased to be here today. Your government took office only a few weeks ago. Since then, we have seen clear words and concrete actions that underline Hungary’s commitment to Europe. My visit today is dedicated precisely to this cooperation, for the benefit of the Hungarian people and Europe as a whole. As a Greek, I am particularly pleased to recall that in 2003, in Athens, at the foot of the Acropolis, Hungary’s Treaty of Accession to the European Union was signed. That moment symbolised the unwavering conviction that Europe’s strength lies in its unity, its diversity, and its shared future. Later today, I will have the opportunity to visit the Hungarian Parliament, one of the most impressive parliamentary buildings in Europe. It is not only an architectural masterpiece, but also a powerful symbol of Hungary’s national identity and its place in European history. Today, we had a substantive and productive discussion on the European and global economy, as well as on the challenges and opportunities that lie ahead. We discussed the need to strengthen Europe’s competitiveness, energy security, the deeper integration of financial markets, and the mobilisation of the investments required for Europe’s long-term prosperity. Hungary is changing its historical trajectory. It is moving from the margins of European developments toward the core of European decision-making. And this shift concerns not only Hungary, but also the new era of Europe itself. Major momentous decisions acquire their true meaning when they translate into greater security, more opportunities, and stronger confidence for citizens. That is the real added value of Europe. I also welcome Hungary’s ambition to deepen its economic and monetary integration into Europe, as well as its commitment to fulfilling the conditions for its future accession to the Eurozone. The path toward the euro is demanding, but deeply transformative. It is a journey. It requires meeting economic criteria and presupposes the building of institutional credibility and trust. Membership in the Eurozone places a country in a space of greater stability, strength, and strategic security. The recent accession of Bulgaria, and earlier of Croatia, demonstrates the enduring attractiveness of the common currency. As the world’s second most important currency after the dollar, the euro maintains a strong international footprint. The euro is much more than a currency. It represents a community of stability, trust, responsibility, and shared prosperity. It reflects a common commitment to economic resilience and the belief that European states are stronger when they act together. When countries seek to join the Eurozone, one fundamental truth becomes clear: in an unstable world, stability becomes a strategic advantage, and credibility is transformed into strength. Joining the euro follows a rules-based process and is linked to convergence criteria. I encourage the Hungarian authorities to continue prudent policies and institutional reforms so as to meet the criteria and prosper within the Eurozone. The Eurogroup stands ready to accompany Hungary, as well as any candidate member state, on the path toward the euro. As highlighted today, the unfreezing of Recovery and Resilience Facility funds is a political priority for the Hungarian government. Thanks to the government’s intensive work, the national recovery and resilience plan was submitted last week and is already on the agenda of the July 10 Council for approval. This development is evidence of the new Hungarian government’s commitment to advancing the reforms identified as key milestones, particularly those aimed at strengthening the rule of law. Our economies prosper in a stable political and institutional environment. Reforms such as those required under the RRF framework are a necessary condition for a country to become an attractive investment destination and for citizens to feel confidence in the economy. The European Union recognises and encourages credible reform efforts wherever they take place. We particularly welcome the measures advanced by the Hungarian government to strengthen the anti-corruption framework, improve transparency in the management of public resources and public procurement, and enhance the participation of social partners and stakeholders in the legislative process. In this context, I support Hungary’s efforts to fulfil the agreed milestones so that the full disbursement of Recovery and Resilience Facility funds can take place once all agreed conditions are met. At a time of profound geopolitical and economic transformation, Europe must remain ambitious about its future. In the Eurogroup, economic policy is an instrument of collective strength. It is the means through which the Eurozone turns cooperation into stability, trust into growth, and shared will into shared prosperity. Europe must shape this new era while preserving its sovereignty, defending its interests, protecting its citizens, and shaping its own future. This requires greater strategic cohesion, deeper integration, and stronger collective action. This is the spirit I look forward to seeing strengthened in my future cooperation with my Hungarian counterparts. Thank you very much.
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