Eurozone finance ministers are meeting on Monday amid new challenges posed by the Omicron variant, as well as rising inflation.

According to the report, the Eurogroup will hold a thematic discussion on economic adjustment and resilience to the recent performance of the eurozone compared to its international counterparts, based on data from the European Commission.

The President of the Eurogroup invited the Chief Economist of the Organization for Economic Co-operation and Development, Lawrence Boone, to exchange views with the Ministers on this issue.

Business vulnerability and structural developments following the Covid-19 pandemic

Ministers will hold a thematic discussion on the business solvency situation and possible measures to facilitate business restructuring and economic adjustment in the euro area as part of the recovery following the global COVID-19 pandemic. The discussion will be based on the Commission’s contribution.

Recommendation for the euro area for 2022

Ministers will discuss the draft recommendation on the eurozone economic policy for 2022, before its approval at the ECOFIN Council meeting on 18 January 2022.

Review of economic governance – eurozone issues

Ministers will discuss the eurozone financial framework and arrangements for financial assistance and supervision after the program is completed. The discussion is based on the Eurogroup work program which identifies its involvement in the review of economic governance.

Extended composition

Banking Union

Ministers will review the progress of work on strengthening the banking union, in particular the future course of finalizing a consensual, phased and time-bound work program that includes all outstanding elements. Ministers will also take stock of the ratification of the revised Treaty on European Stability Mechanism (ESM).

Banking union (general information)

The President of the Eurogroup will also brief the Ministers on the Euro Summit in December and the Eurogroup will exchange views on the follow-up.