Economic and Financial Affairs Council
This is a breakdown of the outcome of the Ecofin Council on Tuesday 13 July 2010. It was chaired by Mr Didier Reynders, Deputy Prime Minister and Minister for Finance and Institutional Reforms.
The latest press release (pdf)
Towards a new European financial supervisory framework
A set of proposals aimed at reforming the European financial supervisory framework in the wake of the global financial crisis.
It involves, in particular, the creation of a European Systemic Risk Board and three European supervisory authorities for the banking, insurance and securities sectors. Negotiations are underway with the Parliament to make it possible to put these new bodies into operation by 1 January 2011.
Date fixed for welcoming Estonia to the euro zone
The Council has taken a decision authorising Estonia to adopt the euro as legal currency from 1 January 2011 and, to this end, has definitively fixed the conversion rate between the Estonian kroon and the euro. This decision expands the euro zone from 16 to 17 Member States.
The broad guidelines set for the “Europe 2020” strategy
The Council has laid down the broad economic policy guidelines for the new “Europe 2020” strategy.
