The Luxembourg Ministry of Finance reported on Finance Minister Gilles Roth's participation in Eurogroup and Economic and Financial Affairs Council meetings in Brussels. The meetings covered Banking Union developments, geoeconomic risks and financing for innovative companies, while ECOFIN continued work on the regulatory package for the integration and supervision of European markets. Luxembourg backed the package's objectives and the need to support European competitiveness, but argued against new administrative burdens, extra costs or centralized supervision, and the Council approved access for the European Public Prosecutor's Office (EPPO) and the European Anti-Fraud Office (OLAF) to European Union level value added tax information. Eurogroup discussions with the presidents of the Single Supervisory Mechanism (SSM) and the Single Resolution Board (SRB) focused on recent Banking Union developments, including cybersecurity and the use of artificial intelligence, and were joined by the president of the European Banking Federation for a discussion on cross-border banking activity. In inclusive format with the International Monetary Fund (IMF), ministers also examined the impact of the Middle East crisis and wider geoeconomic developments on the European economy, especially energy related challenges and associated risks. Ministers additionally received a report by Christian Noyer and Jürgen Kukies on financing innovative companies in Europe, with recommendations aimed at easing start-ups' and scale-ups' access to private capital. ECOFIN also exchanged views on developments linked to the war against Ukraine and reviewed follow-up from the Group of 20 finance ministers and central bank governors meetings and the IMF spring meetings. On the sidelines, Roth held bilateral talks with European Commissioner for Taxation Wopke Hoekstra on negotiations over the proposed tobacco taxation directive.
Ministry of Finance (Luxembourg) 2026-03-13
Luxembourg Ministry of Finance reports Luxembourg backing for EU market integration package without centralized supervision as ECOFIN approves EPPO and OLAF VAT data access
The Luxembourg Ministry of Finance reported on Finance Minister Gilles Roth’s participation in Eurogroup and ECOFIN meetings in Brussels, where ministers discussed Banking Union developments, geoeconomic risks and financing for innovative companies. Luxembourg backed the regulatory package on integration and supervision of European markets and competitiveness, while opposing extra administrative burdens, costs and centralized supervision. The Council approved access for the European Public Prosecutor’s Office and the European Anti-Fraud Office to EU-level VAT information. ECOFIN also reviewed economic implications of the war in Ukraine and recent G20 and IMF meetings, and Roth held bilateral talks with the European Commissioner for Taxation on the proposed tobacco taxation directive.