Preparation of the Eurogroup and ECOFIN meetings, 12-13 July 2018

Vice-President Dombrovskis and Commissioner Moscovici will represent the Commission at the Eurogroup and ECOFIN meetings taking place today and tomorrow. Today’s Eurogroup meeting will provide the Commission with an opportunity to present the Summer 2018 Interim Economic Forecast.

The Eurogroup will discuss the budgetary situation in the euro area as a whole, focusing on the prospects for 2019 and receive a presentation from the Chairman of the European Fiscal Board (EFB), Niels Thygesen, on the EFB’s recently published report. The Commission and the European Central Bank will present the main findings from their post-programme surveillance missions to Ireland and Spain. The Eurogroup will also discuss the outcome of the June Euro Summit and issues related to the deepening of the Economic and Monetary Union. Commissioner Moscovici will participate in the press conference following the meeting. At tomorrow’s ECOFIN meeting, the Council will discuss the Commission’s proposal to introduce more flexibility for Member States to apply the same low VAT rates to e-publications as they can currently apply to traditional books. Ministers are expected to look at a proposal which would introduce the possibility for Member States to apply a temporary reverse charge mechanism for VAT. They will also exchange views on the outcome of the June meeting of the European Council. Finally, the Austrian Presidency will present ministers with its work programme in the field of economic and financial affairs. Vice-President Dombrovskis will participate in the press conference following the ECOFIN meeting.