Well, we are here of course to discuss all that with each other, what we are going to do to cope with the situation, what we can do together and what the possibilities are. You know the position of the Netherlands that we have mentioned. In the first instance, we want to see what is possible when we look for resources from the existing funds. There is still a lot that can happen there, but we have also asked the Commission earlier at the Informal Financial Council to show which countries, which sectors are hit the hardest and what opportunities there are.
What I mentioned is that it's always good to know what you're talking about, how affected some countries and sectors will be, what we can do in terms of the energy transition, the acceleration and how we stand for it. It also depends on the duration of the crisis. Finally, there is also our opinion. I have propagated that myself, first we look at what is still there, what we can use and based on the latest data we can make a new weighting with each other.
(Question regarding the long duration of the current situation)
No, I know that answer too, but it is still important for the big decisions that may be coming up. High sustained inflation, investments that are needed not only in the field of climate change or the energy transition. We have to look again at how we are going to spend that money. Also, the resources that are still there that should be tapped into first.
(Now in these cases it seems to me that it is complicated that you on one day talk to people who have the euro, and the next day with all the ministers of Economic Affairs and Finance. Where are the real decisions then made?)
Well, in the end it's taken by the heads of government, but I think this is a phasing. It is important that we have the Eurogroup together, but at the end of the day it is about the whole union. We have seen in this crisis how important decisiveness and unity is. Also If you look at the implementation and the choices around sanctions.
(If people at home hear this and think yes, at the end of the day, I have trouble to pay the gasoline, the groceries and the electricity bill. Which way do you think the solutions should go?)
Well, there are no easy solutions, I think we should start with that. Just last week in the Netherlands, we also turned the last buttons that we could use this year. The reaction to that is of course a very sober one, also a criticism, I understand that, but in this period of enormously high inflation it is also the case that we cannot fully compensate for the loss of income that will affect people. It is important that we also look ahead, so invest, but we have to talk about debt sustainability. And also of course to see if we can help the countries within the Union to stay afloat. The energy market play an important part into it, we will talk about that, also within the cabinet. There are many possibilities, but making wrong promises or giving too much hope, I think that is also harmful.
[ Ссылка ] #eudebates
Ministers discuss fiscal policy coordination for 2023, with a view to safeguarding the economic recovery in the euro area.
The Eurogroup also takes stock of the economic situation arising from Russia's military aggression against Ukraine and other key macroeconomic developments having influence on budgetary planning for 2023.
Ministers then have a discussion on the thirteenth enhanced surveillance report on Greece. The enhanced surveillance framework for Greece was activated by the Commission on 11 July 2018, and entered into force in August 2018. The quarterly enhanced surveillance reports enable close monitoring of the economic, fiscal and financial situation and the post-programme policy commitments, as agreed by the June 2018 Eurogroup.
In inclusive format, they exchange views on the way forward to agree on a work plan for all outstanding elements of the Banking Union, ahead of the March Euro Summit that will take place on 24-25 March 2022.
The Eurogroup on Monday urged the most indebted countries of the common currency, including Spain, to make “adjustments” to reduce it “if conditions permit”, despite recognizing that the war in Ukraine has increased uncertainty about economic recovery. The Ministers of Economy and Finance of the Nineteen adopted a statement on the fiscal position to be taken by euro economies in the coming year at a meeting marked by the impact that Russia's invasion of Ukraine will have.
#Russia #Ukraine #Energy #inflation #sanctions #RussianElite
On this issue, Dutch Minister Sigrid Kaag pointed out that her government is not in favour of taking investments in defence or in the ecological transition out of the calculation because she would run the risk that countries would not “measure the same” when estimating their deficit and debt.
[ Ссылка ] #eudebates
