The European Council published an update from the February Eurogroup meeting, where ministers agreed the 2025 recommendation on the economic policy of the euro area and adopted the Eurogroup work programme through July, alongside discussions on the euro area economic outlook and Bulgaria’s progress towards adopting the euro. The 2025 euro area recommendation, agreed on the basis of a European Commission proposal, sets out three priority areas for action by euro area member states and the Eurogroup, with ministers also backing more structured and consistent follow-up to strengthen its use, including in shaping the Eurogroup’s competitiveness agenda. The work programme focuses on five policy areas: budget coordination, advancing the capital markets union, progress on the banking union, competitiveness with a particular focus on productivity, and common currency issues including the digital euro project and the international role of the euro. On Bulgaria, the Eurogroup reiterated that once Bulgaria is ready to request ad hoc convergence reports from the European Commission and the European Central Bank, the institutions will assess whether the criteria for successful euro area integration are met.
European Council 2025-02-17
European Council Eurogroup agrees 2025 euro area economic policy recommendation and adopts work programme through July
The European Council updated the February Eurogroup meeting, highlighting the 2025 euro area economic policy recommendation and the Eurogroup work programme through July. The programme emphasizes budget coordination, capital markets union, banking union progress, productivity-focused competitiveness, and common currency issues, including the digital euro. The Eurogroup also discussed Bulgaria's progress towards euro adoption, noting the need for ad hoc convergence reports from the European Commission and the European Central Bank.