Eurogroup

Prime Minister Kyriakos Mitsotakis spoke about the issues discussed during the Informal Summit in Budapest.

The Prime Minister focused on the issues of competitiveness and energy, which are of concern to the European Union, and he paid particular attention to electricity prices, while he also spoke about Europe’s need for strategic autonomy.

National Economy and Finance Minister Kostis Hatzidakis criticized the Eurogroup resolution on the competitiveness of the European economy in the discussion held in Brussels, saying that "the resolutions we are adopting are in the right direction, but they lack ambition.

The Letta and Draghi reports serve as a "wake-up call" for the EU, Greek Economy and Finance Minister Kostis Hatzidakis said in Luxembourg on Tuesday, where he took part in the Eurogroup and ECOFIN meetings.

Bulgaria's Deputy Prime Minister and Finance Minister, Lyudmila Petkova, confirmed that the draft budget for 2025 will target a deficit of no more than 3% of the country's GDP. This assurance was made during a meeting with European Commissioner for Economy Paolo Gentiloni ahead of the Eurogroup meeting, according to a statement from the Ministry of Finance.

Greek Minister of National Economy and Finance, Costis Hatzidakis, will travel to Luxembourg today to participate in the Eurogroup and ECOFIN meetings.

On Monday, 7 October, the Eurogroup will meet to discuss the competitiveness of the eurozone, the European Capital Markets Union, the digital euro, and preparations for the eurozone summit scheduled for 18 October.

Speaking before the European Parliament’s Economic and Monetary Affairs Committee (ECON), the chairwoman of the ECB stressed that the world is changing fast and Europe is lagging. According to her, the competitiveness gap of the European economy against the US and China cannot be closed except by further integration of the eurozone to address its structural challenges.

Europe's difficulties are multiplying.

Mario Draghi recently released a report on Europe's competitiveness that has sparked debate across the continent. The report, which shows Europe lagging behind the US and China in a number of areas, has many asking if the continent's leaders will heed his call to action.

In Europe, we all needed what Mario Draghi offered us last week. In the 400 pages of his report on the future of European competitiveness, he first reminded us of the values on which it was founded and for which the European Union deserves to exist.

Mario Draghi's warnings about the future of the European Union if it does not proceed with radical solutions for its economy are more than clear. 

Prolonging inactivity will jeopardize the well-being and safety of its citizens, even its raison d'etre, he said in his long-awaited report.