Economic and Finance Ministers and representatives from the Party of European Socialists (PES) met ahead of the Economic and Financial Affairs Council (ECOFIN) to coordinate progressive positions on Europe’s economic agenda.
Lars Klingbeil, Federal Minister of Finance of Germanyand Chair of the meeting, said:
“Europe stands at a decisive point; hesitation is no longer an option. We must be united and confident. Today we discussed important building blocks of European competitiveness: how to mobilize our investment by pushing for progress on the European capital market, issuing a public Digital Euro, and promoting a Buy European strategy.
Ukraine’s defense against Russia’s unjustified war of aggression is about Europe, and that’s why is important to bring our European commitment into the negotiations, finding common solutions to unlock the support that is needed.“
Opening the meeting, participants underlined that the significant investment gap, as highlighted in the Letta and Draghi reports, makes it essential to progress toward a Savings and Investments Union. The Commission’s new Market Integration Package was considered as a step in this direction.
Ministers also stressed that the Digital Euro will play a central role in strengthening European sovereignty, reducing dependence on non-European payment systems and enhancing resilience.
Turning to Ukraine, ministers reiterated that Europe must stand firm in its unwavering support for the country in the face of Russia’s war of aggression, emphasizing that this support must reach Ukraine as swiftly and effectively as possible. They discussed the options on the table, reiterating the importance of legally sound, politically united solutions that build on our common European responsibilities and address the remaining concerns.
On strengthening Europe’s industrial base, ministers emphasized the importance of a Buy European approach to support strategic clean industrial capabilities while strengthening engagement with global partners.
Finally, ministers reaffirmed the progressive family’s commitment to fair global taxation, reiterating our progressive support to the OECD/G20 Two-Pillar Framework and full backing for the Pillar II Directive.
The meeting was attended by:
- Lars Klingbeil, Federal Minister of Finance, Germany, Chair of the meeting
- Carlos Cuerpo Caballero, Minister of Economy, Trade and Business, Spain
- Markus Marterbauer, Federal Minister of Finance, Austria
- Teresa Ribera, European Commission Executive Vice-President for a Clean, Just and Competitive Transition
- Giacomo Filibeck, Secretary General, PES
- Yonnec Polet, Deputy Secretary General, PES
- Fabrizia Panzetti, Secretary- General, S&D
