COUNCIL OF THE EUROPEAN UNION,update

 

Συνεδριάσεις Πέμπτη, 09 Ιουλίου 2026

● Eurogroup   09/07/2026 20:45 | Press release | Remarks by Kyriakos Pierrakakis following the Eurogroup meeting of 9 July 2026   Ladies and gentlemen, good evening. I would like to begin with the conclusion of today's meeting, because I believe it captures effectively the most important message. Budgets, public debt and fiscal rules remain at the core of the Eurogroup's mission. They will continue to form the foundation of our economic policy. But the economy is changing at a pace we have never experienced before, and with it the issues that finance ministers are called upon to address. Competitiveness, technology, artificial intelligence, energy security and geopolitics are no longer separate policy areas. They are different dimensions of the same economic reality. That is why the Eurogroup must evolve together with the economy it serves. Our responsibility is not only to safeguard the stability of the euro area, but also to help create the conditions for its long-term competitiveness and prosperity. This is why we devoted a significant part of today's meeting to artificial intelligence and digital finance. Artificial intelligence has the potential to rewrite the rules of the global economy. Above all, it has the potential to raise productivity in our economies. And productivity is the foundation of long-term growth, competitiveness and prosperity. AI will affect people's lives, investment, the way businesses operate, together with labour markets, the financial system and, ultimately, the way growth is generated. Today, we had the pleasure of welcoming Arthur Mensch, Founder and CEO of Mistral, one of Europe's leading AI companies. We discussed not only the implications of artificial intelligence for financial stability, but also the conditions Europe must create to ensure that the technologies of the future are developed here in Europe. Artificial intelligence can significantly strengthen our financial system by improving risk management, increasing the efficiency of financial services and enhancing our resilience against ever more sophisticated cyberattacks. At the same time, however, those very capabilities can also be used maliciously, creating new vulnerabilities and new systemic risks. It is no coincidence that both the European Systemic Risk Board and the Single Supervisory Mechanism placed particular emphasis this week on the risks associated with frontier AI models. But there is also, I would add, a deeper strategic dimension. Artificial intelligence is the technology that will shape competitiveness and economic power in the twenty-first century. Europe must create the right conditions, mobilise the necessary capital and enable its companies to achieve the scale to compete globally, so that the next generation of global AI champions is born, grows and remains here in Europe. The same philosophy guided our second major discussion, on digital finance. After several months of work, we concluded this dedicated workstream with the adoption of a common Eurogroup statement. Our conclusion is quite clear. Europe must move with speed and ambition to harness the opportunities offered by digital finance for growth, competitiveness and economic sovereignty. Achieving this transition requires close cooperation between the public and private sector. Innovation should be driven by markets, while public authorities must provide a clear regulatory framework, legal certainty and the necessary safeguards. Our common statement sets out priorities to strengthen legal clarity, support the development of new digital financial products and ensure that we are better prepared for the risks that will accompany this transition. In this context I would like to take the opportunity to welcome the positive outcome of the vote on the digital euro in the European Parliament earlier today. The digital euro stands at the core of our digital finance agenda for retail payments. It will ensure that citizens have access to a secure and convenient form of digital public money, which will act as a trusted anchor in an increasingly digital landscape. The discussions on AI and digital finance also reflect the philosophy underpinning the new Eurogroup work programme, which we approved today for the next twelve months. It is built around four strategic priorities: fiscal policy coordination; the savings and investment union; competitiveness and economic security; and strengthening the euro as an international, digital and strategic currency. We will systematically broaden our discussions to include issues such as defence financing, energy security and technological sovereignty. It is the responsibility of finance ministers to assess the macroeconomic and fiscal implications of these developments, so that our decisions strengthen both stability and the long-term resilience of the European economy. We then discussed fiscal policy coordination and the overall fiscal stance of the euro area, as Member States prepare their budgets for next year. The environment continues to be characterised by exceptionally high uncertainty, particularly in light of developments in the Middle East. At the same time, we must strengthen our defence capabilities, reinforce our energy security and protect the public investment needed to support growth, while preserving Europe's social model. All of this must be achieved without compromising fiscal sustainability. That is why maintaining the credibility of the fiscal framework we agreed two years ago remains essential. Sound public finances are a prerequisite for a competitive European economy. Finally, we discussed the international role of the euro. The presentation by the European Central Bank confirmed that the euro continues to strengthen its international position despite geopolitical uncertainty. We agreed that further reinforcing the euro's global role depends on strong economic fundamentals and continued progress on the savings and investment union, the single market and digital finance. If there is one conclusion to draw from today's meeting, I think it is this: stability remains the foundation of Europe's economy. But competitiveness will determine Europe's place in the world. That is why we are broadening the Eurogroup's agenda, and that is the direction our Presidency will pursue in the months ahead.   Visit the website  Eurogroup   09/07/2026 18:18 | Press release | Eurogroup statement on the Austrian draft budgetary plan for 2027   We welcome Austria’s submission of its draft budgetary plan (DBP) for 2027 and 2028 on 10 June 2026 as well as the Commission Opinion on the DBP for 2027, published on 6 July 2026. On 8 July 2025 the Council adopted a Recommendation endorsing the national medium-term fiscal-structural plan of Austria setting out a path for maximum growth of net expenditure for the years 2025 to 2029 and decided to simultaneously open an excessive deficit procedure concerning Austria. For the years 2025-2028, these maximum growth rates of net expenditure coincide with the Council Recommendation under Article 126(7) TFEU, with a view to bringing an end to the situation of the excessive deficit by 2028. On 17 February 2026, the Council also activated the national escape clause related to defence expenditure for Austria covering 2025 to 2028. We agree with the Commission’s assessment that Austria’s DBP for 2027 is considered to be compliant as the projected cumulative net expenditure growth for 2027 is below the maximum expenditure growth in the Council recommendation. The Eurogroup invites Austria to implement its fiscal policy in 2027 in line with the requirements of the Stability and Growth Pact (SGP).   The Eurogroup takes note that, given the exceptionally early submission of the DBP covering 2028, the Commission will assess the implementation of the recommended net expenditure path for 2028 in autumn 2027. We invite Austria to submit an updated DBP for 2028 by 15 October 2027 in case of significant changes to the planned budgetary policies compared to the DBP submitted on 10 June 2026.   The Eurogroup will continue to closely monitor economic and fiscal developments on a regular basis and continue its strong policy coordination.   Visit the website ● Eurogroup   09/07/2026 18:16 | Press release | Eurogroup statement on the Euro area fiscal stance   The euro area economy remains resilient despite the energy price shock. Before the conflict in the Middle East began, conditions for economic expansion were in place, with inflation stabilising around its target, favourable financing conditions and robust labour markets. With higher energy prices impacting growth and inflation, Commission Spring Forecast now expects economic growth in 2026 to continue at a slower pace than previously anticipated, before recovering moderately in 2027. Inflation, which is forecast to reach 3.0% in 2026 due to higher energy prices, is expected to ease in 2027, moving closer to its 2% target. Uncertainty on the macroeconomic outlook remains very high and risks to growth are tilted to the downside. The Memorandum of Understanding signed on 17 June between the US and Iran to extend the ceasefire should help reduce those risks. According to the Commission Spring Forecast, the aggregate deficit in the euro area is expected to increase to 3.3% of GDP in 2026 and 3.5% of GDP in 2027. This is explained inter alia by subdued economic activity, higher interest expenditure and increased defence spending. Public debt is also expected to rise in 2026 and 2027, to 90.2% of GDP in 2026 and 91.2% in 2027. The conflict in the Middle East has been directly impacting European citizens and businesses. As a consequence, most Member States have implemented measures to mitigate its impacts at a relatively moderate cost so far, of less than 0.1% of GDP on aggregate. Such measures should be temporary, targeted to the most vulnerable households and affected businesses, and in line with our fiscal framework. At the same time, we reiterate our support to our long-term decarbonisation objectives, as a key lever to reduce the economic and fiscal impact from future energy shocks. After being broadly neutral in 2025, the euro area fiscal stance is expected to turn mildly expansionary in 2026, driven  by the Recovery and Resilience Facility (RRF) as well as by growth in national current expenditure and nationally financed public investment, including for defence. We concur with the Commission’s assessment that a neutral to mildly expansionary stance appears to be appropriate and that a more expansionary stance in 2026 would not be appropriate. In 2027, under a no-policy change assumption, the fiscal stance for the euro area is projected to be broadly neutral, supported by growing public investment, especially for defence, and to a limited extent current expenditure at national level, while the end of the RRF will have a contractionary effect. Given the high aggregate levels of deficit and debt, we reiterate our strong commitment to ensuring fiscal sustainability and to an effective implementation of our fiscal framework. We emphasise the importance of sticking to the net expenditure paths recommended by the Council and encourage Member States at risk of non-compliance with the Stability and Growth Pact to take additional consolidation measures, while taking into account the flexibility under the national escape clause (NEC) for defence activated by the Council for 14 euro area Member States. In parallel, we will continue improving the quality and composition of public finance, in particular growth-enhancing public investment. We will work on gradually adapting the budget, notably to sustain structurally higher defence spending while remaining focused on addressing other structural and social challenges. We also take note of and will further work together with the Commission on the proposal to extend the scope of the NEC to measures that strengthen the structural resilience of the European energy system and accelerate the transition away from fossil fuels, while maintaining fiscal sustainability. The Eurogroup will continue to closely monitor economic and fiscal developments and reinforce its policy coordination. We will review euro area budgetary policies in December, informed by the Commission opinions on the Draft Budgetary Plans for 2027.   Visit the website ● Council of the EU   09/07/2026 09:06 | Media advisory | Media advisory - Eurogroup meeting of 9 July and Economic and Financial Affairs Council of 10 July 2026   Indicative programme All times are approximate and subject to change Thursday 9 July - Eurogroup meeting Place: Europa building Chair: Kyriakos Pierrakakis, President of the Eurogroup 14.00 Arrivals (live streaming) +/- 14.45 Doorstep by Kyriakos Pierrakakis (live streaming) 15.00 Eurogroup meeting in regular format (roundtable) Fiscal policy coordination: Euro area fiscal stance – Eurogroup statement International role of the euro Eurogroup work programme Miscellaneous 16.50 Eurogroup meeting in inclusive format (roundtable) The economic impact of emerging technologies: artificial  intelligence and cybersecurity - implications for the financial  sector Digital finance: Concluding discussion and Eurogroup+  statement At the end of the meeting (+/- 18.30) - Press conference with President of the Eurogroup Kyriakos Pierrakakis, Commissioner for Economy and Productivity, Implementation and Simplification, Valdis Dombrovskis and ESM Managing Director, Pierre Gramegna (live streaming). Videos and photos from the event                                                     Friday 10 July - Economic and Financial Affairs Council Place: Europa building Chair: Simon Harris, Tánaiste and Minister of Finance of Ireland 08.00 Arrivals (live streaming) +/- 08.30 Doorstep by Simon Harris (live streaming) 09.00 Ecofin breakfast (roundtable) 10.00 Beginning of the Economic and Financial Affairs Council Adoption of the agenda Approval of "A" items: - non-legislative list - legislative list (public session) +/- 10.15 Presidency work programme +/- 10.30 Market integration and supervision package (public session) +/- 11.45 Any other business: - Current financial services legislative proposals (public session) +/- 12.00 Economic and financial impact of Russia’s war of aggression against Ukraine +/- 12.15 Economic recovery in Europe +/- 12.35 European Semester 2026 +/- 13.00 Implementation of the economic governance framework +/- 13.20 Convergence reports from the Commission and the European Central Bank +/- 13.35 Preparation of the G20 Finance Ministers and Central Bank Governors meeting on 31 August and 1 September 2026: EU terms of reference At the end of the Council (+/- 14.00) - Press conference with Tánaiste Simon Harris and Commissioner for Economy and Productivity, Implementation and Simplification, Valdis Dombrovskis (live streaming). Videos and photos from the event Meeting page - Eurogroup of 9 July 2026 Meeting page - Economic and Financial Affairs Council of 10 July 2026 In the margins of the Council In the margins of the ECOFIN, the European investment bank (EIB) group will hold an event on 10 July at 08:40 in the Europa building press room to mark the expanded European Tech Champions Initiative. The event will include a brief statement by EIB group president Nadia Calviño and a family photo with finance ministers of participating member states and institutional investors. For further details contact: n.chrysoloras@eib.org.   Visit the website

● Council of the EU   08/07/2026 10:27 | Media advisory | Press briefing - Agriculture and Fisheries Council of 13 July 2026   The "off the record" press briefing ahead of the Agriculture and Fisheries Council will take place on Friday, 10 July 2026 at 11:00. The press briefing will take place in a hybrid format: EU accredited journalists will be able to participate and ask questions either remotely or in person at the Europa building press room. To attend the event remotely, please use the link below to register and have the possibility to ask questions. Those who already registered for previous press events of the Agriculture and Fisheries Council do not need to do it again. Deadline for registration: Friday, 10 July 2026 at 10:00 Further instructions will be sent to all registered participants shortly after the deadline. Registration page Media accreditation for journalists   Visit the website ● Council of the EU   09/07/2026 17:10 | Meetings | Agriculture and Fisheries Council, 13 July 2026   Background brief - Agriculture and Fisheries Council, 13 July 2026   View meeting page ● Council of the EU   09/07/2026 12:26 | Media advisory | Press briefing - Foreign Affairs Council of 13 July 2026   The press briefing ahead of the Foreign Affairs Council will take place on Friday, 10 July 2026 at 14.30. This press briefing will be 'off the record' and will be given by a senior EEAS official in a hybrid format: EU accredited journalists will be able to participate and ask questions either remotely or in person at the Europa building press room. To attend the event remotely, please use the link below to register and have the possibility to ask questions. Those who already registered for previous press events of the Foreign Affairs Council do not need to do it again. Deadline for registration: Friday, 10 July 2026 at 13.30. Further instructions will be sent to all registered participants shortly after the deadline. Registration page Media accreditation for journalists   Visit the website ● Council of the EU   09/07/2026 11:23 | Meetings | General Affairs Council, 14 July 2026   Background brief - General Affairs Council of 14 July 2026   View meeting page ● General Secretariat of the Council   Think Tank reports on Russia’s war of aggression against Ukraine   A strategic shift in NATO’s support for Ukraine, whether Ukraine’s security guarantees are a prerequisite for lasting peace or an obstacle to ending the war, the Special Tribunal for Ukraine, Ukraine’s reconstruction gap and why public finance has not yet crowded in private capital, and the Ukraine support tariff and how Europe can support Ukraine and weaken Russia are some of the topics covered in the present update.   Read full post ● Συμβούλιο της Ευρωπαϊκής Ένωσης   06/07/2026 14:28 | Συνεδριάσεις | Κύρια σημεία της ημερήσιας διάταξης - Συμβούλιο Γεωργίας και Αλιείας, 13 July 2026   Η ιρλανδική Προεδρία θα παρουσιάσει το πρόγραμμα εργασιών της και τις κύριες προτεραιότητές της στους τομείς της γεωργίας και της αλιείας. Στη συνέχεια, οι υπουργοί θα ανταλλάξουν απόψεις σχετικά με τη στρατηγική της Επιτροπής για το ζωικό κεφάλαιο και το σχέδιο για τις πρωτεΐνες, σχετικά με γεωργικά θέματα που συνδέονται με το εμπόριο και σχετικά με τις γυναίκες στη γεωργία.   Ειδική σελίδα συνεδρίασης ● Council of the EU

09/07/2026 09:17 | Meetings | Economic and Financial Affairs Council, 10 July 2026   Background brief - Economic and Financial Affairs Council of 10 July 2026   View meeting page

● Συμβούλιο της Ευρωπαϊκής Ένωσης   09/07/2026 10:41 | Συνεδριάσεις | Κύρια σημεία της ημερήσιας διάταξης - Συμβούλιο Εξωτερικών Υποθέσεων, 13 July 2026   Το Συμβούλιο Εξωτερικών Υποθέσεων θα προβεί σε ανταλλαγή απόψεων για τις τελευταίες εξελίξεις που σχετίζονται με τον επιθετικό πόλεμο της Ρωσίας κατά της Ουκρανίας και την κατάσταση στη Μέση Ανατολή, συμπεριλαμβανομένων του πολέμου στο Ιράν και των επιπτώσεών του σε ολόκληρη την περιοχή. Οι υπουργοί θα συζητήσουν επίσης την εφαρμογή της στρατηγικής για τον Εύξεινο Πόντο και, υπό το σημείο «Θέματα επικαιρότητας», τις σχέσεις ΕΕ–ΟΗΕ.   Ειδική σελίδα συνεδρίασης