The Ministry of Finance of Latvia announced that State Secretary Baiba Bane will represent Latvia at Eurogroup and Economic and Financial Affairs Council meetings in Brussels on July 9 and 10. The meetings are due to cover the euro area fiscal stance for 2026 and future fiscal policy coordination, the impact of artificial intelligence on financial stability and cybersecurity, digital finance, European Union capital market integration, the economic and financial effects of Russia's war in Ukraine, and implementation of the Recovery and Resilience Facility. At the Eurogroup, ministers are expected to discuss the euro area's fiscal stance for 2026, review the euro's international role and approve the Eurogroup work program through June 2027. In the inclusive Eurogroup format, Latvia will support practical application of the European Union Artificial Intelligence Act to reduce administrative burdens and support innovation in fintech and startups, and it backs progress on the digital euro package while stressing resilience requirements jointly defined by the Baltic states and Finland. At ECOFIN, discussions are set to focus on the Savings and Investments Union, financial market integration and implementation of financial services regulation. Latvia supports measures to develop integrated and efficient European Union capital markets, modernize market infrastructure and limit the risk of excessive regulation. ECOFIN is also expected to discuss Ukraine's economic and financial situation, implementation of the Recovery and Resilience Facility, and approve European Union Council recommendations to member states on economic, social, employment, structural and budgetary policies. Latvia will continue to advocate consistent support for Ukraine, including timely financial assistance and swift adoption of the European Commission's proposed 21st sanctions package.

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