Brussels: Europe and the Arabs
Finance ministers of the eurozone countries (those using the single currency) held a meeting chaired by Paschal Donohoe. According to a statement issued by the European Union institutions in Brussels on Thursday evening at the conclusion of the regular meeting, the Eurogroup reviewed economic developments and future prospects, including fiscal policy in the eurozone countries.
In preparation for the upcoming annual meetings of the World Bank Group and the International Monetary Fund in Washington, the ministers exchanged views on exchange rate developments, drawing on the insights of the Commission and the European Central Bank.
Capital Markets Union
As part of the annual monitoring of progress at the EU and national levels, the Commission shared its assessment of the progress and development of capital markets at the EU level.
The ministers exchanged national and regional initiatives and best practices for strengthening the Capital Markets Union and discussed the best course of action to deliver on the commitments made.
The statement quoted Pascal Donohoe, President of the Eurogroup, as saying, "The Capital Markets Union remains a key priority, and today's review was an important moment to ensure we are moving in the right direction. Recent new initiatives at the EU and national levels are very encouraging, but there is still much more to be done. The Eurogroup is committed to maintaining the political momentum in this area."
Stablecoins
Ministers exchanged their thoughts on the implications of recent developments in stablecoins for the EU, with the participation of the Commission and the European Central Bank.
Stablecoins are likely to play an increasing role in financial markets, and we are fully aware of their growth. However, there are opportunities and risks. The Eurogroup will continue to study this topic, particularly in light of recent progress on a digital euro. According to Pascal Donohoe, President of the Eurogroup
Preparations for the October Eurogroup Summit
The statement concluded by saying, "Eurogroup President Pascal Donohoe presented his usual message to the President of the Eurogroup Summit, which is scheduled to take place in the coming days on the sidelines of the EU leaders' summit in Brussels before the end of this month."