Greece's Ministry of National Economy and Finance sets out Eurogroup agenda to safeguard the euro’s international role and address global imbalances

Greece's Ministry of National Economy and Finance published a statement by Minister Kyriakos Pierrakakis, in his capacity as President of the Eurogroup, ahead of a Eurogroup meeting in Brussels. He flagged two priorities for discussion: the international role of the euro and global macroeconomic imbalances, arguing that safeguarding the euro’s international role and the European Union’s monetary sovereignty has become “existential” given geopolitical risks that the international financial and monetary system could be used as a political tool. He positioned the debate in the context of the EU’s competitiveness agenda and the Eurogroup’s focus on growth. The discussion on global imbalances is set to involve counterparts outside the euro area and cover trade and internal imbalances, including the interaction of government budgets, private savings and investment, and their linkages at global level, alongside their geopolitical dimension. Pierrakakis also invited Canada’s Minister of Finance, François-Philippe Champagne, referencing Canada’s recent presidency of the G7, to share views on the topic.