Agenda Ecofin: evaluatie nationale economiën, statistieken overheidsbegrotingen, Grieks begrotingstekort (en)

(Amelia Torres, Ewa Hedlund, Maria Assikamopoulou)

EUROGROUP

Eurogroup ministers will meet on 19:00 hrs on Wednesday 16 February.

The meeting will start with an exchange of views on the Commission's recommendation of 9 February, under Art 104.9, concerning the excessive deficit situation of Greece (see below for IP reference). Ministers will also discuss the draft Council opinions on the updated stability programmes assessed by the Commission on 2 February (France, Germany, Belgium, Finland, Ireland, Italy and Denmark, see below) Finally, the Eurogroup ministers will also continue their discussions on the review of the Stability and Growth Pact.

ECOFIN COUNCIL

The European Union's Council of Economics and Finance Ministers will start 10.00hrs on Thursday 17 February. The European Commission will be represented at the Council by Economic Affairs Commissioner Joaquín Almunia i and by Financial Programming and Budget Commissioner Dalia Grybauskaité i.

Application of the Stability and Growth Pact

• Assessment of the updated stability and convergence programmes

The Council is expected to give its opinion on the second series of updated stability/convergence programmes assessed by the Commission on 2 February for Belgium, Finland, France, Germany, Ireland, Italy, Denmark, Estonia, Malta, Poland and Slovakia (see IP/05/127 and IP/05/129 ).

Application of the ongoing excessive deficit procedures

The Council is expected to adopt the Commission recommendation of 9 February giving notice to Greece, in accordance with Article 104.9 of the Treaty, to take the necessary measures to remedy its excessive deficit situation (see IP/05/153 ).

• Budgetary statistics

The Council is expected to adopt conclusions on the Commission's Communication of 22 December 2004 defining a strategy to improve the governance of the European system of fiscal statistics. The strategy provides for a draft regulation and a directive, yet to be adopted by the Commission, strengthening the powers of the European statistical office Eurostat to verify national budgetary data and, more generally, to improve the quality of budgetary data and the integrity and independence of the national statistical institutes (see IP/04/1530 )

Preparation of the European Council (22-23 March 1005)

• Broad Economic Policy Guidelines and Lisbon Strategy

In preparation for the Spring Council, ministers will discuss the Commission's report of 27 January on the implementation of the Broad Economic Policy Guidelines (BEPGs) for 2003-2005 adopted by the Council in 2003 and setting out the EU`s medium term economic policy strategy to make Europe more competitive. This report shows that progress continues to be mixed both across sectors and across countries. It will be part of an implementation package that will feed into the forthcoming mid-term review of the EU's Lisbon strategy and the Commission's report to the Spring European Council in March (see IP/05/100 ).

• Reform of the Growth and Stability Pact

Ministers are expected to make progress on the review of the Stability and Growth Pact in order to try and reach an agreement in March ahead the European Council of 22-23 March (see IP/04/1062 ).

Financial Framework for 2007-2013 (EH)

The Presidency will inform the Ministers on the state of play of the ongoing discussions in the Council on the next Financial Perspectives and on the envisaged timetable. Communications on the next Financial Perspectives were adopted by the Commission in February ( IP/04/189 ) and in July ( IP/04/910 ) 2004. They provide an overview of the Union's priorities and goals for the period 2007-2013 and what financial resources are needed to reach the goals. In addition the Commission has adopted several proposals covering different sectors such as agriculture, budget, cohesion policy, education, culture, employment, external relations, transport and energy. The Financial Framework is now being discussed in the Council and the European Parliament.

For more information on the Financial Perspectives:

http://europa.eu.int/comm/budget/financialfrwk/index_en.htm#next

A Points (to be adopted without discussion)

Company taxation: Proposal to amend Mergers Directive (MA)

The Council is due to adopt a proposal to amend the EU Directive that provides for tax deferral in the case of cross-border mergers and divisions of companies, transfers of assets and exchanges of shares (90/434/EEC). The amendment that is based on a Commission proposal of October 2003 (see IP/03/1418 ) will, in particular, broaden the existing Directive's scope to cover a larger range of companies including the European Company (see IP/01/1376 ) and the European Co-operative Society (see IP/03/1071 ); provide for a new tax-neutral regime for the transfer of the registered office of a European Company or of a European Cooperative Society between Member States; clarify that the Directive applies in the case of the conversion of branches into subsidiaries; and cover a new type of operation, known as a 'partial division' or 'split-off'. The Council reached political agreement on the Directive in December 2004 but formal adoption had to await the finalisation of the text of the Directive.

Energy taxation: Proposal to allow UK to exempt low-value solid fuel from climate change levy (MA)

The Council is due to adopt a Decision to allow the United Kingdom to continue to apply an exemption from Climate Change Levy for low-value solid fuel. The United Kingdom presented the request for this derogation under Article 19 of the Energy Tax Directive (2003/96/EC) under which the Council may, on a proposal from the Commission, authorise a Member State for specific policy considerations to apply an exemption from excise duty or a lower rate than the EU-wide minimum rates applicable under that Directive. The United Kingdom introduced the exemption from Climate Change Levy for solid fuel with a value of less than 15 GBP per tonne in 2001 in order to encourage good environmental practice. A tax exemption would support the use of low-value solid fuel, such as the mixed sweepings and debris left from coal and coke mining, for energy production instead of landfilling it. The Decision would expire on 31 December 2009.