Eurogroup: Institutions’ recommendations are positive for Greece

The issue of banking integration will dominate the Eurogroup meeting to be held on Monday in Brussels.

The first session is expected to start at 16:00 (Athens time) with the participation of Eurozone finance ministers and the second session will start at 18:00 with the participation of 27 EU finance ministers (excluding the UK).

At the first session with the euro area finance ministers, ECB Supervisory Board chair Danièle Nouy will brief the Eurogroup on the ECB’s banking supervision activities over the last six months.
The Eurozone ministers will then exchange views and discuss national practices for public investment in human capital aimed at stimulating growth and employment. The debate is linked to the common principles for the promotion of investments, following a Eurogroup agreement in April 2017. According to one of those principles, the Eurozone must ensure high-quality public investments to support sustainable development.

On the Greek issue, the representatives of the institutions will brief the Eurogroup on the progress made during the first mission in Athens. According to a Eurozone official, the institutions’ recommendations are encouraging and the atmosphere is positive. However, he said, there is still much work to be done. The same official expressed the view that a staff-level agreement is feasible before the Eurogroup on December 4.

Eurogroup chief Jeroen Dijsselbloem is expected to present the procedure for the election of a new president and the submission of candidacies, due to start in mid-November.

The election of the new president of the Eurogroup is expected to take place at the meeting on December 4.