European Council publishes Eurogroup chair remarks urging progress on the digital euro and a Savings and Investment Union

The European Council published remarks by the chair of the Eurogroup setting out priorities for strengthening the euro in a more volatile geopolitical and trade environment, linking the currency’s resilience and high public support to the need to continue developing the euro area project. The speech pointed to continued euro area growth, moderating inflation forecast to reach 2.1%, and around 2 million new jobs expected over the next two years, alongside Eurobarometer results showing 52% trust in the European Union and 83% support for the euro. It framed public backing around “convenience, coordination and confidence”, arguing for the digital euro to keep the currency convenient in a more digital economy, stable and coordinated budget frameworks to support investment including for security and the green and digital transitions, and steps that reinforce confidence such as euro area enlargement, noting Croatia’s entry and expressing hope that Bulgaria could join. On the euro’s international role, the remarks highlighted the need for more competitive and liquid European capital markets and positioned the Savings and Investment Union as a key strand, referencing a Commission plan published in March and calling for national-level follow-up including on pension systems, financial literacy, and common savings and investment products and accounts for retail investors.