Eurogroep-voorzitter Dijsselbloem blij met stop noodprogramma voor Ierland en groei in Spanje (en)
Eurogroup finance ministers welcomed the improved economic outlook and expressed unequivocal support for Spain and Ireland's unassisted programme exits.
Eurogroup President Dijsselbloem speaking to journalists before the meeting
© European Union
Eurogroup strategy succeeds in Ireland and Spain
Eurogroup ministers welcomed the imminent completion of the Irish and Spanish programmes: proof that the Eurogroup's strategy is starting to deliver results. Tribute was paid to the hard work of the Spanish and Irish people and to the determination with which reforms have been pursued.
The Eurogroup fully supported both countries' judgements that no follow-up programmes were needed. Market confidence has improved for both countries.
Eurogroup President Dijsselbloem underlined that the Spanish programme had improved the resilience, regulation and supervision of Spanish banks. The Spanish economy has returned to growth.
The President congratulated Ireland on its programme's success, "as evidenced by the return to market confidence, the on-going economic recovery and declining unemployment".
The Eurogroup underlined that both countries must maintain the reform momentum in order to overcome remaining challenges and secure sustainable recoveries.
Improved economic outlook
Ministers discussed the Commission's autumn forecast and welcomed indications of an improving outlook for the euro area. Positive growth has returned and is beginning to strengthen. The recovery will gradually pick up speed in 2014 and 2015.
Important challenges remain, in particular high public and private debt levels and record high unemployment. The Eurogroup reiterated that in order to deliver a sustainable recovery, structural reforms and fiscal consolidation must continue.
Extraordinary Eurogroup to focus on draft budgets
On November 22, the Eurogroup will for the first time consider the Commission's opinions on draft national budgets and the fiscal outlook for the euro area as a whole. This is an important step in the improved coordination of fiscal policy in the euro area in line with two-pack legislation requirements. Member State budgets will be finalised in the light of this discussion.
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