Article : Svantesson welcomes constructive discussion on EU’s economic governance

 

15/02/2023 15:00 | Article Svantesson welcomes constructive discussion on EU’s economic governance The ongoing economic governance review in the EU was one of the agenda items at the Ecofin Council in Brussels. After the meeting, Minister for Finance Elisabeth Svantesson noted that the discussion was an important step towards finding common input values to present to the European Commission in March.

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15 February 202315:00
Svantesson welcomes constructive discussion on EU’s economic governance
© European Union


The ongoing economic governance review in the EU was one of the agenda items at the Ecofin Council in Brussels. After the meeting, Minister for Finance Elisabeth Svantesson noted that the discussion was an important step towards finding common input values to present to the European Commission in March.

I am pleased with today’s discussion and confident that we will be able to find a way forward, even if much work still remains. The EU needs common economic policy guidelines, especially in times of great economic uncertaintyElisabeth Svantesson, Minister for Finance



Update on EU sanctions against Russia

Under the regular agenda item on the economic and financial impact of Russia’s aggression against Ukraine, the discussions mainly focused on the EU’s sanctions against Russia.

- The sanctions are biting hard and contributing to a severe and sustained economic recession in Russia, despite record-high energy prices last year, said European Commissioner Valdis Dombrovskis at the press conference.



The ministers for finance met in Brussels.

Four new jurisdictions added to EU list of non-cooperative jurisdictions for tax purposes

At the meeting, the Council also decided to revise the EU list of non-cooperative jurisdictions for tax purposes. British Virgin Islands, Costa Rica, Marshall Islands and Russia were added to the list. Barbados, Jamaica, North Macedonia and Uruguay fulfilled their commitments and could therefore be removed from the state of play document (Annex II).

The aim of the list is to promote tax transparency and prevent harmful tax competition and base erosion and profit shifting (BEPS).

Read more: Taxation: British Virgin Islands, Costa Rica, Marshall Islands and Russia added to EU list of non-cooperative jurisdictions for tax purposes

During the meeting, the Council also adopted the Commission’s proposed amendments to the Council’s implementing decision for Germany’s recovery and resilience plan. The Council also approved the EU’s terms of reference in view of the G20 meeting of finance ministers and central bank governors that will be held in late February. In addition, the Swedish Presidency presented the state of play as regards legislative proposals in the field of financial services.

Main results - Ecofin 14 February