The Cyprus Ministry of Finance said Finance Minister Makis Keravnos will travel to Brussels on 3 May to attend the Eurogroup on 4 May, chair the Economic and Financial Affairs Council on 5 May, and take part in the European Parliament high-level event Right to Stay on 6 May in his capacity representing the Cypriot Presidency of the Council of the European Union. At the Eurogroup, ministers are due to receive an update on the operational aspects of the banking union from the Chair of the European Central Bank Supervisory Board, discuss a report by Jörg Kukies and Christian Noyer on financing innovative investment initiatives in Europe, and examine the impact of the war in the Middle East on the European economy, particularly energy prices. The ECOFIN agenda includes a further discussion on the economic effects of the war in the Middle East and broader economic developments, followed by talks on revising the regulation governing access to value added tax data by the European Anti-Fraud Office and the European Public Prosecutor's Office, with the aim of agreeing a general approach. The proposal would give the European Public Prosecutor's Office and the European Anti-Fraud Office direct and central access to VAT data to strengthen the framework for tackling fraud cases. Ministers will also discuss a package to further develop financial market infrastructures and capital markets supervision in the Union, exchange views on the economic effects of European legislation on businesses and the public sector in the context of simplification, consider the economic and fiscal impact of Russia's invasion of Ukraine, and are expected to approve Denmark's revised Recovery and Resilience Plan. The meeting will also include an update on the April G20 finance ministers and central bank governors meeting and the International Monetary Fund Spring Meetings, as well as the annual Economic and Financial Dialogue with Regional Partners. On 6 May, Keravnos is scheduled to join the European Parliament event Right to Stay, which will focus on creating better living and working conditions in the regions so that people can remain and work where they live.