An Tánaiste and Minister for Finance Simon Harris is today attending a virtual meeting of the Eurogroup where EU Finance Ministers will discuss the economic impact of the ongoing conflict in the Middle East.
Finance Ministers will be briefed by the Head of the International Energy Agency, Fatih Birol, on the latest energy developments and possible policy responses.
The meeting will also discuss the upcoming international spring meetings in Washington D.C. and the continued work on a Savings and Investment Union (SIU).
Speaking today ahead of the meeting, An Tánaiste said:
“The situation in the Middle East is a pressing matter for Europe. The volatility in energy prices is an issue which the Irish Government and the Governments of our fellow EU Member States take very seriously, both in terms of the impact on citizens, and the effect on European businesses and competitiveness more broadly. We are all keenly aware of the need to stay coordinated in our actions and I look forward to hearing from my colleagues on the measures they are putting in place. It is important that we continue to monitor the effect of energy prices on European households and businesses and that any policy responses are temporary, targeted and aligned with the fiscal rules.
“I also look forward to engaging with colleagues on the preparations we are currently undertaking for the IMF and G20 Spring Meetings which are set to take place in April in Washington D.C.
“Following these items, we will discuss a recent letter issued by an informal group of 6 Member States on advancing the Savings and Investment Union.
I look forward to discussing all of these items with my European counterparts on Friday.”
The Eurogroup meeting was originally scheduled alongside the Informal Economic and Financial Affairs Council in Nicosia as part of the Cyprus Presidency of the Council of the European Union. However, due to the ongoing situation in the Middle East the decision was taken to postpone that Informal ECOFIN and to move the Eurogroup to a virtual setting.
