EUROGROUP,COUNCIL OF THE EUROPEAN UNION,update

 

Meetings Monday, 12 May 2025

● Eurogroup   12/05/2025 21:01 | Meetings | Main results - Eurogroup, 12 May 2025   The Eurogroup in the banking union format were briefed from the Chairs of the Single Supervisory Mechanism and the Single Resolution Board. Ministers also exchanged views on the health of the euro area financial system in light of recent geopolitical challenges. In regular format, they reviewed preparations for the June annual meeting of the ESM Board of Governors. In inclusive format, ministers discussed global economic developments and key takeaways from the recent international meetings, including the G7, and reflected on next steps for the digital euro.

● Eurogroup

12/05/2025 20:59 | Statements and remarks | Remarks by Paschal Donohoe following the Eurogroup meeting of 12 May 2025   We started our meeting by welcoming the new Vice Chancellor and Finance Minister of Germany, Lars Klingbeil, who outlined the main economic priorities of the new German government. We continued with our biannual discussion with the chair of the Single Supervisory Mechanism, Claudia Buch, and the chair of the Single Resolution Board, Dominique Laboureix. They provided insights into their respective activities in the fields of resolution, preparedness, supervision and regulatory issues. I want to thank Claudia and Dominique for their work. Today's discussion came at the right moment as we have recently experienced significant market events. They remind us that financial stability needs to remain at the core of our priorities, as it interacts with a lot of our work in areas such as economic resilience and competitiveness. It is important to acknowledge the overall good condition of the banking sector of Europe. The capital and liquidity positions of banks, as well as their balance sheets, have strengthened significantly in recent years. And this progress is notably due obviously to the banks themselves but in particular to the efforts of supervisors and regulators in enhancing the resilience of our banks. That being said there are still a number of challenges that have to be actively addressed including digital transformation, cyber threats and climate change. We also need to continue to monitor the impact on the banking sector of global trade tension. Our exchange confirms and indeed reinforces our dedication to further strengthening the banking sector and advancing the banking union. We need concerted efforts to fulfil our existing commitments including finalising the reform of the crisis management framework. We then held an exchange of views on a range of issues relating to the European Stability Mechanism (ESM) in preparation for the upcoming annual meeting of the ESM in June, and the Managing Director of the ESM, Pierre Gramegna, gave an overview of the work that is underway. This was an opportunity to take stock of the current state of play and reflect on the broader context with a view to shaping a more structured dialogue next month at the Eurogroup and also at the ESM Board of Governors meetings. We discussed how we can ensure the ESM's toolkit remains fit for purpose in light of evolving challenges. We also had an update on the ratification of the revised ESM treaty in Italy to deliver on commitments that all countries have undertaken. Today's discussion was a valuable step in framing the work ahead and will support efforts to shape a common way forward. We also welcomed our non-euro colleagues for two topical discussions. The first was a discussion stemming from the recent G7 meeting in Washington, which allowed ministers to take stock of global economic developments. All ministers agreed on the need to work towards reducing trade and geopolitical tensions. While monitoring the impact of trade uncertainty on the euro area economy, there will of course be an impact on growth. But I think there is also recognition that amidst all that is going on, the euro area's resilience, stability and reliability are seen as strengths and increasingly as a safe haven for investors, innovators and of course for our own citizens. And while the external challenges that we face are significant, we will not lose sight of the opportunities to deliver on a positive and clear policy agenda that we have framed for the euro area. It was in that spirit we turned our attention down to the digital euro. We took stock of the work of the Council, of the Commission, and of the European Parliament on the legal framework. There is good progress, but there are some areas that require further work. Meanwhile, the European Central Bank also continues its technical work. We agreed again that this initiative is crucial, given the changing geopolitical landscape and the importance of diversification of strategically important payment systems. The sense of urgency for this project is increasing for ministers. So we agreed to speed up work and aim to find compromises on the remaining issues as soon as possible. This means that the Eurogroup, in conjunction with the Polish and Danish presidencies, will continue its political engagement with this common European project. ● Council of the EU   12/05/2025 18:47 | Meetings | Main results - Education, Youth, Culture and Sports Council, 12-13 May 2025     Ministers for education and youth met in Brussels to discuss a joint European degree label and the impact of online disinformation on young people.   ● Council of the EU   12/05/2025 16:56 | Press release | Cyber-attacks: Council extends sanctions and legal framework   The Council today decided to prolong the restrictive measures (sanctions) against cyber-attacks threatening the EU and its member states for a further year, until 18 May 2026. The legal framework (sanctions regime) for these measures is extended for three years until 18 May 2028. This framework allows the EU to impose targeted restrictive measures on persons or entities involved in cyber-attacks which cause a significant impact, and constitute an external threat to the EU or its member states. Restrictive measures can also be imposed in response to cyber-attacks against third states or international organisations, where such measures are considered necessary to achieve the objectives of the Common Foreign and Security Policy (CFSP). With these restrictive measures, the EU seeks to deter malicious cyber activities and uphold the international rules-based order by ensuring that those responsible are held to account. Restrictive measures currently apply to 17 individuals and four entities, and include an asset freeze and the provision of funds or economic resources, directly or indirectly, to them or for their benefit is prohibited. Additionally, a travel ban to the EU applies to the natural persons listed. These individual listings will continue to be reviewed every 12 months. Today’s decision confirms the willingness of the EU and its member states to provide a strong and sustained response to persistent malicious cyber activities targeting the EU, its member states and partners. The EU and its member states will continue to cooperate with our international partners to promote an open, free, stable and secure cyberspace. Background In June 2017, the EU established a Framework for a Joint EU Diplomatic Response to Malicious Cyber Activities (the "cyber diplomacy toolbox"). The framework allows the EU and its member states to use all CFSP measures, including restrictive measures if necessary, to prevent, discourage, deter and respond to malicious cyber activities targeting the integrity and security of the EU and its member states. The cyber diplomacy toolbox was revised in 2023 to allow the development of sustained, tailored, coherent and coordinated strategies towards persistent cyber threat actors. The EU framework for restrictive measures against cyber-attacks threatening the EU and its member states was set up in May 2019. Cyber-attacks: three individuals added to EU sanctions list for malicious cyber activities against Estonia (press release, 27 January 2025) Council decision concerning restrictive measures against cyber-attacks threatening the Union or its Member States (consolidated text dated 27 January 2025) How the EU is strengthening its cybersecurity (background information) ● Council of the EU   12/05/2025 15:49 | Press release | Council takes steps towards a new joint European degree label   The Council has set out its vision for the future of European higher education. In a recommendation and parallel resolution agreed at today’s meeting, education ministers have laid the groundwork for the implementation of a joint European degree label and set out the next steps towards the possible introduction of a joint European degree. “The agreements reached today bring us a step closer to one of the key strategic priorities for the future of higher education in the EU: a possible joint European degree that would boost the attractiveness and competitiveness of European higher education on a global scale. They represent an important milestone in our efforts to deepen European cooperation in the higher education sector and reinforce its global standing.” — Marcin Kulasek, Polish Minister for Science and Higher Education Two complementary texts The two texts approved at today’s meeting set out the Council’s ambition for the future of European higher education, while also outlining the practical elements of the process towards achieving this ambition. Taken together, they respond to the pressing need to strengthen the attractiveness of Europe’s universities and raise their global standing at a time of increasing geopolitical challenges.  The Council’s resolution sets out the member states’ vision for a joint European degree label and proposes a roadmap towards a possible joint European degree, with three phases to be carried out by 2029. The accompanying recommendation specifies the criteria for awarding the joint European degree label. The label would be granted to joint programmes delivered via transnational cooperation between universities from different countries, including at least two EU member states. Quality assurance and mutual recognition Guaranteed quality standards across all participating universities are a key prerequisite for the implementation of a joint European degree label and the possible introduction of a joint degree. The recommendation therefore aims to boost quality assurance processes within universities across Europe, in particular by: ensuring quality assurance processes are agile, internationalised and fit for purpose, allowing universities to respond and contribute to the dynamic societal transformations affecting them supporting the implementation of automatic mutual recognition of qualifications across member states In an annex to the recommendation, the Council lays out building blocks for exploring the development of a dedicated framework for quality assurance for alliances of higher education institutions. The implementation of the joint European degree label will build on the foundations provided by the Bologna process. The label will act as a guarantee of compliance with the highest quality standards and will have a significant European dimension. Background On 27 March 2024, the European Commission adopted a package regarding Europe’s higher education sector, looking to encourage enhanced cooperation among higher educational institutions in the EU and the eventual establishment of a European degree. The package included proposals for Council recommendations on attractive and sustainable careers in higher education, and on a European quality assurance and recognition system in higher education. The Council adopted the recommendation on attractive and sustainable careers in higher education on 25 November 2024. Council recommendation on a European quality assurance and recognition system in higher education Council resolution on a joint European degree label and the next steps towards a possible joint European degree Council adopts recommendation on attractive and sustainable careers in higher education (press release, 25 November 2024) European Education Area (background information) A European degree (European Commission)  General Secretariat of the Council   ‘Leadership styles in the European Council – How leaders behave behind closed doors’ by Martina Vass   An interesting book for anyone curious about the workings of the European Council, how those involved describe it, and the elusive notion of ‘leadership’. Based on a wealth of interviews with direct witnesses and participants, it opens a window onto the crises of the recent past and the behaviour of some members of the European Council. ● Council of the EU   12/05/2025 11:10 | Press release | Ukraine: Council approves conclusions assessing cohesion policy’s action for Ukrainian refugees in Europe   Today, the Council approved conclusions on a European Court of Auditors’ (ECA) report aiming to assess cohesion policy’s action in support of Ukrainian refugees in Europe. To address migratory challenges caused by the war in Ukraine, the EU gradually adapted cohesion policy rules by adopting Cohesion’s Action for Refugees in Europe (CARE). The ECA examined whether member states effectively used CARE and the cohesion policy funds available to address the needs of the refugees, and concluded that CARE did help member states use the available cohesion policy funding to address the crisis. However, ECA also found that the monitoring of cohesion policy funding does not capture the entire support and the use of CARE and recommended that, if the Commission were to prepare proposals for new crisis‑related measures or amendments, it should ensure that there is an appropriate monitoring system with data necessary to assess their effectiveness. In its conclusions, the Council recalls the three regulations on Cohesion’s Action for Refugees in Europe (CARE, CARE Plus and FAST-CARE) that increased flexibility, liquidity and simplification to cohesion policy for the 2014-2020 and 2021-2027 Multiannual Financial Frameworks (MFFs) and made it easier for member states to finance projects helping to address the migratory challenges resulting from Russia’s war of aggression against Ukraine. The Council agrees, however, with the Court’s conclusion that there is a risk that the repeated use of cohesion policy to address crises may impact its primary strategic goal to strengthen economic, social and territorial cohesion between European regions. Finally, the Council invites the Commission to ensure an appropriate monitoring system is in place, should it prepare new crisis-related measures or amendments, so that data necessary for assessing the effectiveness of such measures is available. The Commission should notably aim for a proportionate monitoring system that allows for a rapid response and avoids excessive administrative burden. Background information The Cohesion’s Action for Refugees in Europe (CARE) initiative supports member states and regions in providing emergency assistance to people fleeing from Russia’s invasion of Ukraine. On 12 February 2025, ECA published its special report titled ‘Cohesion’s Action for Refugees in Europe: Increased flexibility but insufficient data hinders future assessment of effectiveness’, which provides an in-depth assessment of the use of the three regulations on cohesion’s action for Ukrainian refugees in Europe (CARE, CARE+ and FAST-CARE) by member states, the available cohesion policy funds to address the specific needs of displaced people from Ukraine, and the support provided by the Commission for the implementation of CARE measures. The report found that CARE provided member states with flexibility, liquidity and simplification to facilitate the use of cohesion policy funds to respond swiftly to migratory challenges, despite the limited funding available under 2014-2020 programmes. Managing authorities found the assistance and guidance provided by the Commission on the CARE provisions and their implementation timely and suitable, and considered the CARE flexibility mechanisms helpful in responding to the migratory challenges. However, their uptake varied substantially among programmes and member states, as the crisis did not affect all of them equally.   The report also found that reprogramming was affected by the uncertain or unavailable information concerning the flows of refugees from Ukraine and the need for support resulting thereof and that operations to address the specific needs of refugees were selected and implemented quickly, in accordance with the need for immediate action. Moreover, ECA assessed that the supported operations were adapted to the specific situations and needs, and participants considered them useful and meeting their most urgent needs. Finally, the report found that effectiveness of the assistance provided through CARE was, however, rarely measured and incomplete information on the use of CARE limits the assessment of its overall effectiveness. ECA Special Report No 5/2025 ‘‘Cohesion’s Action for Refugees in Europe: Increased flexibility but insufficient data hinders future assessment of effectiveness’, 17 February 2025 CARE – Cohesion’s Action for Refugees in Europe (Commission background information) ● Council of the EU   12/05/2025 10:46 | Press release | Public access to Council documents: 2024 report   The Council today approved its 2024 report on public access to documents. The report describes trends in the implementation of Regulation 1049/2001 regarding public access to Council documents last year and reviews other related aspects. Legislative activities and transparency The report notes a much lower level of legislative activity in 2024 in relation to previous years, which is typical for the end of the legislative cycle. In total, 57 Council negotiating mandates were agreed. According to the agreed approach on strengthening legislative transparency, all mandates, the outcome of negotiations with the Parliament and other main documents related to the legislative procedure were made public. Council’s public register The report also highlights that the Council’s public register included over 527 000 original-language documents on 31 December 2024. Of these documents, more than 72% are public and available for download. Throughout 2024, almost 24 000 original language documents were added to the register, of which around 70% are public and available to download. This includes over 4 400 legislative documents, of which almost 84% have been made fully available to the public, either directly upon circulation or upon request. The Council's public register was consulted nearly 522 000 times. Access to documents requests Anyone can request access to documents listed in the public register and which are not yet public. Access can only be refused based on one of the exceptions provided for in Regulation 1049/2001. These include, among others, the need to protect the institution's decision-making process and the public interest as regards defence and military matters and international relations. If access is refused at the initial stage, a confirmatory application may be submitted. In 2024, the Council received over 2 800 initial requests for access to documents and 30 confirmatory applications, which required the analysis of more than 10 000 documents. At the initial stage, full access was granted to 72.5 % of the documents and partial access to 11.7 %. Regarding confirmatory applications, full access was granted to 28.6 % of the documents and partial access to 35.7 %. Types of requests As in previous years, more than half of the requests for access to documents were made by the representatives of various civil society and private sector organisations (29%) and the academic world (24%). The requested documents were related to several policy areas, most notably justice and home affairs (21.3%), foreign affairs (11.5 %), competitiveness (10.8 %) and Environment (9.7 %). Annual report on access to documents for 2024 Search in the public register Request a document (online form) Strengthening legislative transparency (July 2020)