COUNCIL OF THE EUROPEAN UNION,EUROGROUP,update

 

Press material Tuesday, 03 June 2025

● Eurogroup   03/06/2025 18:09 | Speech | 'Shaping tomorrow and navigating uncertainty: the future of the euro area' - speech by the Eurogroup President, Paschal Donohoe, at Centre for Financial Studies, Goethe University   Allow me to start from a theme very important to me -  where the euro stands at the moment, and the project that now awaits us - to use the euro to support Europe in a world that is becoming more volatile and more uncertain. As I look at the changes taking place in the world - Russia's war of aggression against Ukraine, changes in the transatlantic relationship, the level of change that we've seen happen in our economies in recent years – these are just some of the issues weighing heavily on our minds and dominating our discussions. Today, I want to talk about how we can navigate that uncertainty, and I want to make the case for optimism in our ability to deal with it. In the Eurogroup, the group I am privileged to chair and meet with every month, we spend all of our time as a community of finance ministers dealing with these issues. And I want to give an insight into our thinking about how we can progress our economies during this moment of global change. I am very aware, as I speak to you in this distinguished university, that Goethe himself took over the role of chancellor of the Exchequer of the Duchy of Sachsen-Weimar in 1782. He worked on many political and economic matters. Given my privilege of being here with you today, I want to make some reference to his insights in my address. The current juncture Where are we now? We are at a moment of such significant change. Europe is being challenged by political forces from both outside and within. Trade tensions have soared, we've seen uncertainty grow, and we have seen rising concern about the future of the global trading system. This shock is only the latest in a series of shocks that have confronted societies in recent years. There is now an entire generation of European citizens whose experience is dominated by the global financial crisis, the Covid-19 pandemic, Russia’s war of aggression against Ukraine, the ensuing energy shock and now a trade shock. While they have grappled with those serious shocks, the background to their lives are the transformative changes that were already in place - those of digitisation, those of democracy, and, of course, climate. All of which are reshaping the economic and political landscape, and creating both challenges and opportunities. We can see the very powerful political pull of protectionism, of polarisation and of populism. We can see how economic anxiety, cultural fears and political distrust are now being mobilised. Populist, radical right-wing parties, for example, now rank among the top three most powerful political forces in one third of European countries. No less than 60 populist parties across 26 EU member states gained representation in last year’s European Parliament elections, winning some 36% of seats. The conundrum At the same time, for all the challenges we face, the economic outlook remains positive and is far better than we could have hoped for given a pandemic, a war on our borders and the big changes in global trade. We have seen positive growth every year across the euro area since the sharp drop due to the pandemic. The latest forecasts suggest GDP will grow this year and again next year.I Inflation is beginning to moderate back to our targets and is forecast to reach 2.1% in the euro area. Critically, labour markets remain healthy, with around 2 million new jobs expected to be created over the next two years. Public finances, thankfully, remain relative stable across the euro area. What does this mean for confidence in Europe and in our institutions? I was particularly struck by the latest Eurobarometer survey of public opinion that came out last week. Today, 52% of European tend to trust the European Union, the highest since 2007, and 83% of the public within the euro area support a single currency - the euro. That is the highest level of support ever. When I looked into this further, I saw that public support for the euro increased in a majority of member states of the euro area, reaching a historically high level in the middle of the pandemic. We saw an increase in support of nearly 20 percentage points in countries like Italy, Greece, and Portugal, and between 9 and 15 percentage points in Lithuania and Belgium, Slovenia and Spain. “The question I pose today is that at a time of rising populism, rising polarisation and fragmentation, why is this that people increasingly trust the euro?” —  Importantly, what does that tell us about the future of the euro and what we need to do? A possible explanation Let me begin with a possible explanation. First, while European elections are increasingly fought on European issues, national factors still play a critical role in European elections. Second, we know through analysis of nearly a quarter of a century of polling data from European public opinion that the performance of an economy is a good predictor of support for the European Union. In particular, a person's position in the labour market and national levels of employment are very important. While they can get very easily lost in the noise, the message of economic resilience is still emerging strongly - not just in how our economies have performed, but in terms of how member states have collectively addressed many of the challenges in recent years, and, in particular, how our institutions here in Europe have operated. I think this goes some way to explaining rising support for the euro at a time of rising populism, but not all the way. So, what could the other factors be? Convenience, coordination, and confidence I believe there are three main reasons for this support. The first is convenience. People feel the euro every day in their wallets. We see it when we pay for shopping, when we go out for a meal, when we buy a coffee. It has really practical and really tangible benefits for people in ways that sometimes other policies of the European Union might not. And in academic literature from universities such as this one, this kind of support is known as output legitimacy. It's the extent to which citizens recognise, in a practical way, policies that further their own interests. The second reason for further support, I think, has to do with coordination. In particular, I'm referring to coordinated action of budget policies at a national level, and a sense among citizens that our collective challenges and opportunities have been so big that no one country can respond adequately on their own. Even an economy as big as Germany’s. Some analysis suggests that fiscal policy initiatives that were implemented at a European level were understood in terms of their collective impact, particularly during the decisions we took during the Covid-19 pandemic. I will never forget the Eurogroup meetings that happened during that short and awful period. And I think there was an imprint left afterwards where citizens realised that by coming together, we created a framework to navigate our way through a moment of real strain and to protect the euro. The third reason for this citizen support is confidence. Currency has always been a symbol of sovereignty on a national level, and on a shared level. The euro is a powerful symbol of our shared sovereignty. A powerful symbol that you can feel in your wallet, see in your purse. “People have confidence in the euro because they know we will defend and support it. They know we will progress and develop it.” —  I also think citizen’s have grown in confidence about our ability to develop it. Those are the three Cs - convenience, coordination and confidence. What are the messages I take from that as a politician, as somebody who makes the case for this work in Ireland and across Europe? Well, firstly, there are real reasons for optimism about making the case for what the euro has done. And at the moment, those of us who hold public office should be making that case. And second, public support for our currency should give us confidence about how to develop it and make the case for us. We shouldn't step back from the shouting voices. Rather, we should and we must step forward. Progress is not necessarily linear Why do I say this? Well, it's because of the nature of progress within Europe. For over 70 years, I believe that our collective efforts have been a beacon for peace and for progress. The political framework that we have created within the European Union has helped foster and maintain a spirit, a way of engaging with each other, that's focused on cooperation. It's not always easy. In fact, it's rarely easy. But that way of working with each other, that economic and democratic strength has real value in a volatile world. We shouldn't, and we couldn't assume progress into the future without our efforts. And we should never assume the maintenance of the status quo. It is Goethe that teaches us that “progress has not followed a straight ascending line, but a spiral with rhythms of progress and retrogression, of evolution and dissolution.” “We can neither take European integration for granted or delay reforms or key projects without consequence.” —  The European project is always in flux. It's the collective expression of our individual efforts, and progress isn't always linear. The costs and benefits of action, or indeed inaction, are not symmetric. Inaction itself can be a decision and not a costless one. And at the moment, if we don't step forward with our efforts, we risk slipping backwards. Standing still won't be neutral, it could indeed be regressive. Stepping forward So how do we do that? I go back to the 3Cs that I referenced earlier. We should learn from the past. We should look at how those Cs, I believe, are recognized by those who use our currency. The euro is obviously convenient because people today use as in for example, cash. But we must ensure it continues to be convenient as the world becomes more digital. “We must ensure the euro continues to be convenient as the world becomes more digital. We must ensure the digital future of our currency through a project such as the digital euro.” —  In addition to ensuring convenience for our citizens, this opens the door to opportunities for innovation, for more efficient private financial systems. It will also strengthen our autonomy and strengthen our economic sovereignty. The second C of coordination - we must maintain stable budget frameworks that our citizens have faith in. And in the Eurogroup, we spend a lot of time on this - evaluating budget developments, looking at how we can coordinate them, and in particular, examining what the euro area budget stance is, to ensure that we guide member states in their work on aligning their strategies with our common goals of promoting stability, promoting growth. If we can do that right, it gives us a better chance of funding the longer-term investments that we need for European security and for the green and digital transitions. I underline the importance of security. Our DNA is built around a recognition that peace and prosperity are indivisible. That is why the credibility, the stability and the safety of our public finances go hand in hand in investing with our security. The final C - confidence. Our euro area family became larger when Croatia joined our ranks. I hope that Bulgaria will be able to do so soon. Changes like that increase our resilience, they strengthen the role of the euro. There has indeed been much important focus on the role of the euro in recent weeks and months. This, I believe, reflects a growing confidence in our macroeconomic stability and trust in how we make decisions. “Our strong fundamentals, I believe, are increasingly understood and valued by international partners, by citizens, by businesses and financial markets. This matters when uncertainty grows.” —  I believe that whether we can deliver a larger international role for the euro will depend on our ability to deliver the commitments that we have made to ourselves. And we know in particular of one project we can do more on. And that is the need to develop more competitive, more resilient liquid capital markets to enhance the euro's use at home here in Europe and also internationally. A key part in contributing to that agenda is our work on the Savings and Investment Union. The Commission in March of this year, in response to work, in particular from the Eurogroup over the last 18 months, came forward with a comprehensive plan in this area. But we have so much follow-up we need to do ourselves at national level, for example, with regard to our pension systems, to improve in financial literacy and to develop common savings and invest in products and accounts for retail investors. So, are we capable of rising to this challenge? Rising to the challenge History tells us that we have been capable, and I have no doubt at all that we will be this time as well. How should we proceed? How do we deliver? Well, we need to continue to remember that the European Union matters so much economically, but it is inherently a political project. Rising to the challenge of the times for the European Union has always been a set of political decisions, and this time will be no different. Allow me to reference Yair Zivan’s fantastic book ‘The centre must hold’, and here I come on to my final C.  He writes the following: “populism goes hand in hand with political extremism, dividing us and preventing us from finding any common ground. Extremists want us to believe that compromise is never necessary, that it is a symbol of weakness and failure. They too always have a simple solution to all of the problems of society- total commitment to their ideology”. Our decision making in Europe, on the other hand, is complex. At times, indeed, it's burdensome. But –it does deliver dialogue, often continuous dialogue, and put a focus on the forging of compromise and consensus, that in turn, allows us to act with certainty and to react with unity. Due to this, I believe we have shown a resilience in recent years that is frequently underestimated. I believe that our efforts again can support stability, predictability and the rule of law. And the solution to these political challenges, in my opinion, is that final C, the C of centrism. It's a project that's frequently associated with the status quo, with standing still, and that indeed is its greatest risk. Looking back at the decade we've gone through, there is a sense that the centre is the establishment and an establishment that can't change. Perceptions of inaction, have at times dissatisfied electorates, and created a mood for a different kind of change. So, yes, the centre must hold, I believe, but the centre holding is not the same thing as staying the same. A centrist response to the issues we face isn't about defending the status quo. Rather, it's about evolution. It's about moving forward. And I believe the euro and the euro area represents a great case study of that approach, and one we should be more ambitious about. “Today, while forces around the world are trying to reduce interdependence, are trying to pull back from integration, looking at where we are in Europe, the best choice we have is to act collectively because we can achieve more collectively than we can individually.” —  That is the contemporary rationale for the European Union today, which we overlay on top of its foundations as a peace project. And the euro is the economic manifestation of this. We have to keep on evolving the project and keep on making the case for us. I believe we have to continue to strengthen its democratic legitimacy through decisions we take together. We strengthen it through our policies by making the case for moving that project forward. I will conclude with a final quote from Goethe, in his famous maxim he asks: "What, then, is your duty? What the day demands".

● Council of the EU

03/06/2025 16:36 | Press release | Council and Parliament secure deal to better tackle non-sustainable fishing by third countries   The Council has reached a provisional agreement with the European Parliament on improved rules to tackle non-sustainable fishing practices allowed by non-EU countries in relation to stocks of common interest. Overall, the aim is to safeguard the long-term sustainability of shared fish stocks, while also ensuring fair competition for European fishers and protecting EU fishing interests. “Today's agreement gives us stronger tools to tackle non-sustainable fishing practices allowed by third countries and to encourage responsible fishing. Our message is clear: we are determined to safeguard the long-term sustainability of shared fish stocks and protect European fishers from unfair competition.” — Jacek Czerniak, Polish State Secretary for Agriculture and Rural Development Clearer rules aimed at promoting sustainable fishing practices The targeted revision makes the rules for identifying countries allowing non-sustainable fishing practices clearer and more transparent. Under existing rules, once a country has been identified as allowing non-sustainable fishing practices, the EU can impose restrictions such as import bans. Thanks to the revised regulation, non-EU countries will have a clearer understanding of the circumstances under which their actions could lead to EU penalties. More specifically, the updated regulation clarifies the notion of 'failure to cooperate' and provides a list of examples of non-cooperative behaviour. Such examples include refusing to consult or to involve all the relevant countries in the consultations. The text also clarifies that a country can be considered as allowing non-sustainable fishing if, while failing to cooperate, it does not adopt, implement or enforce the necessary measures, including control measures. Additionally, the new rules clarify that if a third country imposes quotas or discriminatory measures, without due regard to the rights, interests and duties of other countries and the EU, and which lead to the stock being in an unsustainable state, the regulation can be applied. The co-legislators have also clarified that the measures foreseen in the regulation can be applied in all cases where international cooperation is required, including in the context of a regional fisheries management organisation (RFMO). Additionally, the Council and the Parliament have agreed that the Commission must update them on developments or actions taken when identifying a country as failing to cooperate or when imposing restrictions on imports. Enhanced cooperation Another key objective of the proposal is to improve cooperation with non-EU countries before and after the EU takes action to address non-sustainable fishing practices. The updated rules will ensure a continued dialogue with the third country, as well as bilateral and multilateral cooperation, aiming to ensure that the country ceases to allow non-sustainable fishing. The agreed text clarifies that if the stock falls under an RFMO, the compliance body of that RFMO will deal with the matter, in order to remedy the situation, before the EU takes measures. A specific deadline of 90 days for third countries to reply to notifications by the EU has also been agreed. Next steps The provisional agreement will now need to be confirmed by both institutions before it can be formally adopted. Background  Regulation (EU) 1026/2012 sets out a framework for the EU to adopt measures against non-EU countries that allow non-sustainable fishing practices. These measures can include identifying a country as such, as well as imposing restrictions on imports of fish and fishery products from that country. Council negotiating mandate Commission proposal Tackling non-sustainable fishing practices allowed by non-EU countries: Council endorses negotiating mandate (press release, 11 December 2024) ● Council of the EU   03/06/2025 14:36 | Press release | Joint press release following the EU-U.S. Ministerial on Justice and Home Affairs, 2-3 June 2025 (Warsaw, Poland)   On 2-3 June 2025, the Polish Presidency of the Council of the European Union hosted the EU-U.S. Ministerial Meeting on Justice and Home Affairs in Warsaw, Poland. The United States was represented by Attorney General Pamela Bondi and Senior Counselor to the Secretary for Homeland Security Kristi Noem, Rob Law. The European Union was represented by the Commissioner for Internal Affairs and Migration Magnus Brunner and the Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection Michael McGrath, as well as the Polish Minister of the Interior and Administration, Tomasz Siemoniak and the Polish Minister of Justice Adam Bodnar. The meeting provided the opportunity to reaffirm the value of sustained EU-U.S. cooperation in addressing shared challenges and their joint commitment to ongoing dialogue and close cooperation on Justice and Home Affairs matters. The European Union and the United States reviewed recent joint achievements and identified concrete joint actions in areas of common interests and priorities, such as fighting transnational organised crime and drug trafficking, counterterrorism, illegal migration, and cyber-related criminal activity. Organised crime and drug trafficking: Both sides underscored their commitment to transatlantic cooperation in addressing the global threat posed by organised crime and drug trafficking. Discussions highlighted ongoing efforts to deepen bi-regional international law enforcement and judicial cooperation, including on combatting cocaine and synthetic drugs trafficking, particularly fentanyl. They welcomed the role of bodies such as Eurojust in facilitating international criminal justice cooperation and coordination. Terrorism: The European Union and the United States discussed their common efforts to counter terrorism, including the importance of information sharing and the excellent ongoing operational cooperation between Europol and U.S. competent authorities. Illegal migration: The European Union and the United States also noted the importance of stopping illegal migration to Europe and to the United States, with a view to countering migrant smuggling and fighting trafficking networks. Both sides reaffirmed the importance of secure borders and emphasised the need for swift returns. Cyber-related crimes: The European Union and the United States discussed the importance of fighting cybercrime and tackling increasing threats, such as ransomware and online scams and other fraud, as well as in preventing and combating child sexual abuse. Finally, both sides reiterated their commitment to transatlantic visa free travel for all citizens of the European Union and the United States. The European Union and the United States look forward to meeting again in Washington D.C in the second half of 2025. ● Council of the EU   Career opportunities at the General Secretariat, 03/06/2025   Director (AD14) Council Legal Service, Directorate JUR.5 "Justice / Home Affairs" Reference: CONS/AD/197/25 The closing day for applications: 24 June 2025, at 12:00-noon (Brussels time) ● Council of the EU   03/06/2025 10:58 | Meetings | Transport, Telecommunications and Energy Council (Telecommunications), 6 June 2025   Transport, Telecommunications and Energy Council (Telecommunications), 6 June 2025  Council of the EU   03/06/2025 10:46 | Meetings | Transport, Telecommunications and Energy Council (Transport), 5 June 2025   Transport, Telecommunications and Energy Council (Transport), 5 June 2025

MEETINGS Wednesday 4 June 2025

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• Council of the EU

­ 04/06/2025 | Media advisory | Presidency event: Informal meeting of EU ministers for agriculture, Warsaw, 15-17 June 2025 On 15-17 June 2025, EU ministers for agriculture will meet in Warsaw, Poland, for an informal meeting.   The meeting will be chaired by Czesław Siekierski, Polish Minister for Agriculture and Rural Development.    The first day will include a visit to the Research Institute of Horticulture in Skierniewice.   On the second day, participants will address generational renewal as a basis for innovation and modernisation in agriculture. They will also discuss ways in which young people can be encouraged to stay or settle in rural areas and to take up work in agriculture.   A press conference will take place on 17 June 2025 at +/- 13:00.   Accreditation for the informal ministerial meeting is open, and the deadline for registration is 6 June 2025, at 11:00.     More information can be found on the presidency website.   To register, click here.    @POLAND25EU

● General Secretariat of the Council

'L’Europe et ses défis: L’émergence d’une puissance continentale' par Patrice Obert, Gérard Vernier   Le livre « L’Europe et ses défis: L’émergence d’une puissance continentale » procède à une analyse détaillée du continent européen, de l’histoire de l’Union européenne et des principaux défis auxquels elle est confrontée aujourd’hui.

● Eurogroup

04/06/2025 14:53 | Statements and remarks | ‘Bulgaria has now met all the necessary criteria for euro area membership’ - statement by the Eurogroup President, Paschal Donohoe   I warmly welcome the positive conclusions of the Convergence Reports published today by the European Commission and the European Central Bank. These reports confirm that Bulgaria has now met all the necessary criteria for euro area membership — a pivotal milestone on its path to adopting the euro.  The Eurogroup has consistently supported Bulgaria’s ambition to join the euro area and will continue to work closely with the Bulgarian government on the next steps of the accession process. Bulgaria’s euro area membership will not only mark a significant achievement for the country with important benefits for its economy, but will also reinforce the strength, resilience, and voice of the euro area in the world. This development reflects the enduring stability and attractiveness of our common currency. I very much look forward to welcoming Bulgaria to the euro area family next year.

● Council of the EU

04/06/2025 14:36 | Press release | ‘Pharma package’: Council agrees its position on new rules for a fairer and more competitive EU pharmaceutical sector   The Council is ready to begin negotiations with the European Parliament, having agreed its position on new rules that aim to make the EU’s pharmaceutical sector fairer and more competitive. “The mandate agreed today is a vital step toward ensuring that all Europeans have timely and equitable access to safe, affordable, and effective medicines. At the same time, it strengthens the competitiveness and sustainability of our pharmaceutical sector and supports improved regulatory conditions to boost clinical research and to address public health needs. We are building a healthier, more resilient Europe that leaves no one behind.” — Izabela Leszczyna, Polish Minister for Health The pharma package The proposals for a regulation and directive that make up the so-called ‘pharma’ package constitute the biggest reform to the EU’s laws on medicines in over two decades. They aim to: ensure that patients across the EU have fair access to safe, effective and affordable medicines, regardless of where they live enhance the competitiveness of the EU’s pharmaceutical industry by reducing the regulatory burden and simplifying the regulatory framework address issues relating to security of supply through measures aimed at monitoring and preventing shortages mitigate the environmental impact of medicines via better enforcement of environmental rules The Council’s position The Council’s mandate for negotiations with the European Parliament introduces several key amendments to the proposed legislation: regulatory data protection: under the Council’s mandate, companies producing innovative medicines will be able to prevent competitors from accessing the data used to develop those medicines for eight years regulatory market protection: in addition, producers of innovative medicines will benefit from one year of regulatory market protection, extendable to two years if certain pre-defined key objectives are achieved obligation to supply: a new article (56a) has been added to the directive, giving member states the power to oblige the marketing authorisation holder of a medicinal product to make that product available in sufficient quantities to cover the needs of patients in the member state transferrable exclusivity voucher: the Council has introduced a new clause stipulating that a transferred voucher can only be used in the fifth year of the regulatory data protection period, and only if the marketing authorisation holder demonstrates that the annual gross EU sales of the product have not exceeded €490 million in any of the preceding four years intellectual property exemption for generic medicines: in order to support earlier market entry of generic and biosimilar medicinal products, the Council’s mandate further clarifies the scope of the so-called ‘Bolar exemption’ and expands it to include submissions for procurement tenders Next steps The Council is now ready to begin negotiations with the European Parliament with a view to reaching an agreement on the package. The new rules will then be adopted following legal-linguistic revision. Background On 26 April 2023 the European Commission published proposals for a new regulation and directive aimed at revising the EU’s pharmaceutical legislation. Taken together, these two legislative proposals seek to increase the availability of innovative medicines throughout the EU, while also boosting the competitiveness of the EU’s pharmaceutical industry, promoting higher environmental standards, and reducing administrative burden. In particular, the proposals: reduce the current standard period of regulatory data protection from eight years to six years and incentivise companies to make new medicines available in all EU countries by providing an additional two years of regulatory data protection (meaning that rival companies cannot sell generic versions of the medicine during that period) encourage research into rare diseases by providing an extended period of market exclusivity (9 years in the original proposal) and increasing this period by one year if the medicine in question addresses a high unmet medical need or is launched in all member states introduce a new ‘transferable data exclusivity voucher’ providing an extra year of data protection, which will be available to companies that develop ‘game-changing’ antimicrobials   Mandate for negotiations (regulation) Mandate for negotiations (directive)