EU financial situation to be discussed by Council of Ministers

Greek’s implementation of adjustment programme for EU approved loan and current financial deficits of 23 EU members to be discussed at Council of Ministers meeting.

3 October 2011, 12:00am

1 min read

Finance Minister Tonio Fenech to participtae in ECOFIN meeting and another meeting of the Euro Group in Luxembourg.

All ministers in attendance will be informed by European Commissioner Olli Rehn of the adjustment programme to be implemented by Greece under obligations agreed upon between the European Union and International Monetary Fund regarding the loan to Greece as approved by European countries.

A process of ratification of the European Financial and Stability Facility (EFSF) will also be discussed. 23 European Member states are currently the subject of proceedings for excessive deficit and will be reviewed by the Council of Ministers.

The council will also be preparing for the meeting of Finance Ministers of the G20 to be held in Paris in October.

Fenech will be accompanied by Malta’s permanent representative to the European Union Richard Cachia Caruana and Finance Ministry permanent secretary Alfred Camilleri.