Tánaiste Simon Harris will travel to Brussels today for a two-day meeting of EU Finance and Economy Ministers.

The Tánaiste will, for the first time, chair the Economic and Financial Affairs Council (ECOFIN) as part of Ireland’s Presidency of the Council of the European Union.

The Tánaiste will present the priorities of the Irish Presidency, setting out an ambitious programme of work focused on strengthening Europe’s competitiveness, security and economic resilience.

A key item on the agenda will be the Market Integration and Supervision Package (MISP), a central pillar of the EU’s Savings and Investments Union.

The package is designed to deepen and better integrate Europe’s capital markets, making it easier for businesses to access finance, encouraging more productive investment of citizens’ savings, and strengthening the EU’s long-term competitiveness and financial resilience.

As Council Presidency, Ireland will use its role as chair to build political consensus among Member States and drive negotiations on the package, with the objective of reaching agreement at the October ECOFIN meeting.

Speaking today, the Tánaiste said:

“Over the next six months, Ireland will play a central role, together with our European partners, in taking forward the ambitions of the European Union. I look forward to leading this work, and I would like to thank our predecessors in Cyprus for the commitment and hard work they have shown throughout their Presidency.

“Ireland is proud to take on this Presidency, which reflects the shared responsibility of EU membership. It is also a rare opportunity to help shape the European agenda at a time of significant geopolitical and economic change. I believe Ireland is well placed to lead our collective efforts in building a more secure, competitive and resilient Europe.

“We have set clear priorities for the next six months, and I will work closely with my European colleagues to deliver on our shared commitments. Ireland is placing citizen-centred competitiveness at the heart of our agenda, with a focus on strengthening the Single Market, boosting productivity and creating the conditions for greater investment, while protecting our values and securing Europe’s future.”

“At ECOFIN, Ministers will discuss the Market Integration and Supervision Package, which is a key pillar of the broader Savings and Investments Union. As Presidency, Ireland is determined to broker agreement on this important package, in line with the commitments set out in the One Europe One Market roadmap.

“Our objective is to have a frank political discussion that identifies the key issues for resolution and builds momentum towards agreement at ECOFIN in October. Reaching agreement on this package will help deepen Europe’s capital markets, support investment and innovation, strengthen competitiveness, and deliver tangible benefits for citizens and businesses across the European Union.”

At ECOFIN, Ministers will receive an update on the economic and financial impact of Russia’s war of aggression against Ukraine.

The Council will also take a number of decisions relating to the coordination of Member States’ economic and budgetary policies. These are expected to include adopting implementing decisions to amend the Recovery and Resilience Plans of a number of Member States, approving the Country-Specific Recommendations for 2027, and opening an Excessive Deficit Procedure for Bulgaria.