Nicosia will host the informal meeting of EU ministers responsible for economic and financial affairs on Friday and Saturday, May 22-23, as part of Cyprus’ Presidency of the Council of the EU in 2026.
The meeting will take place at the Filoxenia Conference Centre, under the chairmanship of Finance Minister Makis Keravnos.
According to an announcement by the Cyprus Presidency, proceedings will begin on Friday at 12:15 with a working lunch focused on strengthening the EU’s competitiveness in an increasingly uncertain geopolitical environment. Ministers will exchange views on the urgent need to improve Europe’s competitiveness, based on a guiding paper prepared by the Cyprus Presidency and presentations by European Stability Mechanism Managing Director Pierre Gramegna and Professor Andreas Theophanous.
The discussion is expected to focus on specific actions needed at EU level to strengthen the European economy. The Presidency said the issue is a key political priority, as it is linked to efforts to enhance the EU’s strategic autonomy while ensuring that Europe remains open to the world.
Later on Friday, from 14:00 to 16:00, finance ministers and central bank governors will hold a joint session on stablecoins, including asset-referenced tokens, their characteristics and their economic function. The discussion will be based on a Cyprus Presidency guiding paper and a presentation by Bruegel Director Jeromin Zettelmeyer.
Ministers will examine both the opportunities and risks arising from the use of stablecoins, as well as the possible need to adapt the EU policy framework to safeguard financial stability in a rapidly changing digital financial ecosystem.
The informal ECOFIN meeting will continue on Saturday, May 23, with proceedings starting at 09:30. Ministers will discuss how the EU can meet its growing investment needs without undermining long-term fiscal sustainability.
The Cyprus Presidency said ministers will examine ways to improve spending efficiency at both national and EU level, while also discussing how to secure the resources required to cover investment needs, mainly in energy, defence and security, and the green and digital transitions. The discussion will be supported by a Presidency guiding paper and presentations by Oya Celasun, Deputy Director at the International Monetary Fund, and Tony Murphy, President of the European Court of Auditors.
As part of the informal ECOFIN programme, the Cyprus Presidency will also host a Eurogroup meeting on Friday, chaired by Eurogroup President Kyriakos Pierrakakis. The meeting will focus on recent macroeconomic developments, competitiveness in the housing sector and progress in discussions on the adoption of the digital euro, in the presence of Aurore Lalucq, Chair of the European Parliament’s Committee on Economic and Monetary Affairs.
Source: CNA
