Brussels (Brussels Morning Newspaper) – The Economic and Financial Affairs Council will meet to negotiate and finalize the EU’s 2025 budget with Parliament.
Economic and Financial Affairs Council of the European Union on 8 Nov 2024. The Council will meet to organise the second meeting of the Conciliation Committee, with the purpose of reaching an understanding with the European Parliament on the EU’s annual budget for 2025. The Economic and Financial Affairs Council (ECOFIN) is responsible for the EU approach in three main dimensions: economic policy, taxation issues and the regulation of financial services.
What is the focus of the ECOFIN council’s November meeting?
The ECOFIN Council is made up of the economic and finance ministers from all member states. Relevant European Commissioners also partake in meetings. There are also thorough ECOFIN sessions, observed by national budget ministers and the European Commissioner for Financial Programming and Budget, to formulate the EU’s annual budget.
The Council will begin at 09:30 in public deliberation and prepare for the meeting of the Conciliation Committee. The discussion of the Conciliation Committee with the European Parliament will begin at 11.00. After the conciliation committee meeting, the Council will resume its session. It will either support an agreement or, failing an arrangement with the European Parliament, decide on the next steps.
The conciliation procedure began on 29 October 2024 and will conclude on Monday 18 November 2024. If the two components of the budgetary authority don’t succeed in uncovering an agreement on next year’s budget by then, the budgetary process will restart.
