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The International Monetary Fund (IMF) presented the main messages of its regular review of euro area policies. Its concluding statement will be published shortly.
The Eurogroup exchanged views on the international role of the euro, based on the annual review published by the European Central Bank. The European Commission also presented its views and analysis.
The euro continues to be the second most important international currency behind the dollar. Nonetheless, we are all aware of challenges created by the current geopolitical and economic context. Sound economic policies in the euro area and a deeper Economic and Monetary Union are at the top of the list of the steps that we can take to continue preserving the international role of the euro and to strengthen it in the future.
Highlights from the Eurogroup meeting held in Luxembourg on 20 June 2024
In inclusive format:
Euro area competitiveness: the role of industrial policy and market integration
The Eurogroup held a fifth exchange of views on euro area competitiveness, focusing on the role of industrial policy. Kristalina Georgieva, the IMF Managing Director, joined this discussion.
Building on the analysis by the Commission and the IMF, ministers discussed possible conditions for a successful industrial policy in a European context.
We acknowledged that there can be situations in which carefully designed industrial policies can play a useful role, for example for pan-European public goods. At the same time, ministers are aware that it is not as easy as it sounds – so there was a lot of emphasis on supportive framework conditions for businesses, to preserve the level playing field within the Single Market.
