| EU Ministers in charge of Finances meet in Brussels for an informal ECOFIN Council meeting. Points on the agenda included the creditworthiness of public finances, the trans-Atlantic agenda for the reform of the financial sector and preparation for the meetings of the G20 and the IMF. The first priority of the Council is to restore the public finance credibility within the framework of the Stability and Growth Pact reform. Commissioner in charge of Economic and Monetary affairs, Olli Rehn, said that fiscal consolidation and structural reforms are essential for growth and jobs. He also welcomed the announcements made by Portugal and Ireland on fiscal consolidation by saying that they are of crucial importance for restoring confidence in those economies and also for the economic stability of the European Union as a whole. Source: EbS |
