During the October 9th meeting, EU ministers exchanged views on the competitiveness of the European banking sector, based on a European Commission report. The meeting also served to adopt recommendations on budgetary plans and the application of derogation clauses for Greece, including energy security measures and defense spending.
The economic and financial impact of Russia's aggression against Ukraine and the final phase of the Recovery and Resilience Facility were topics of discussion. In the context of the European Semester, lessons learned from the 2026 cycle for future cycles were discussed.
The ECOFIN Council was briefed on the outcomes of the G20 meeting on August 31st and September 1st. The EU's Terms of Reference for the October 15th G20 meeting and the EU's statement for the International Monetary and Financial Committee were approved, anticipating the annual meetings of the World Bank and IMF, scheduled for October 12-18, 2026.
Conclusions on climate action financing were adopted, with a view to the 2026 United Nations Climate Change Conference (COP31), to be held in Antalya, Turkey, from November 9-20, 2026.
The next ECOFIN Council meeting is scheduled for November 9th.
