ECONOMY

Ecofin meeting to discuss impact of coronavirus

ecofin-meeting-to-discuss-impact-of-coronavirus

The EU Council of Ministers of Economy and Finance (Ecofin) will discuss on Thursday the European Commission's assessment of the economic impact of the coronavirus and the implementation of the measures taken so far at a European level at a video conference on Thursday afternoon. 

The Croatian Presidency will present the current situation and further work on legislative proposals for coordinated socio-economic measures to tackle the outbreak of Covid19.

The European Commission, the European Central Bank and the European Investment Bank will submit a report on the implementation of the measures taken to date and provide a comprehensive picture of the planned initiatives.

Ministers will also discuss the flow of bank loans to households and businesses, including small and medium-sized enterprises, is one of the EU's most important means of dealing with the socio-economic implications of the epidemic outbreak.

They are expected to approve a statement in support of the flexible application of EU rules in the banking sector, which will call on banks to refrain from distributing dividends.

Ministers will take stock of the progress made towards a realistic approach to this year's European Semester cycle and will be briefed on the annual plenary session of the International Monetary and Financial Committee, which will take place via video conference on 16 April 2020.