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The Ministry plays a major role in European financial policy. It formulates and coordinates Germany’s positions on matters involving the budget and finances of the EU.

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The last Eurogroup and ECOFIN meetings

ECOFIN Doorstep by Olaf Scholz prior to the ECOFIN Council meeting in Slovenia

The EU fi­nance min­is­ters came to­geth­er on 10–11 Septem­ber 2021 in the vicin­i­ty of Ljubl­jana in Slove­nia. Pri­or to the meet­ing, Ger­man Fi­nance Min­is­ter Olaf Scholz re­port­ed that they would be fo­cus­ing on emerg­ing is­sues that are rel­e­vant for a strong and sovereign Eu­rope. He an­nounced that the fi­nance min­is­ters would be dis­cussing new dig­i­tal op­tions in the fi­nan­cial sec­tor. Oth­er items on the agen­da in­clud­ed the next steps in re­form­ing in­ter­na­tion­al cor­po­rate tax­a­tion, eco­nom­ic growth fol­low­ing the coro­n­avirus cri­sis and the tran­si­tion to a car­bon-neu­tral econ­o­my and so­ci­ety.

More : Doorstep by Olaf Scholz prior to the ECOFIN Council meeting in Slovenia

Eurogroup Doorstep by Olaf Scholz prior to the Eurogroup and ECOFIN Council meetings in July

The EU min­is­ters for eco­nom­ic and fi­nan­cial af­fairs came to­geth­er for the Eu­rogroup and ECOFIN Coun­cil meet­ings in Brus­sels on 12–13 Ju­ly. One top­ic on the agen­da was the im­ple­men­ta­tion of na­tion­al re­cov­ery plans un­der the EU’s re­cov­ery fund, Next Gen­er­a­tion EU. In ad­di­tion, US Trea­sury Sec­re­tary Janet Yellen and her Eu­ro­pean col­leagues dis­cussed the eu­ro’s in­ter­na­tion­al di­men­sion and the next steps with re­gard to the glob­al min­i­mum tax.

More : Doorstep by Olaf Scholz prior to the Eurogroup and ECOFIN Council meetings in July

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Our union

Monetary union

Ap­prox­i­mate­ly 337 mil­lion peo­ple in 19 EU coun­tries use the eu­ro as le­gal ten­der. The sin­gle cur­ren­cy is the most far-reach­ing out­come of Eu­ro­pean in­te­gra­tion to date and ben­e­fits cit­i­zens, com­pa­nies and EU mem­ber states.

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Economic union

The sin­gle mar­ket of the Eu­ro­pean Union is the world’s strongest eco­nom­ic area. Not on­ly are EU cit­i­zens free to trav­el, live, study, work and shop in any mem­ber state, they can al­so do busi­ness and in­vest any­where they like in the Eu­ro­pean Union.

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Banking union

The bank­ing union is cre­at­ing a com­mon mar­ket for bank­ing ser­vices. The bank­ing union pro­tects tax­pay­ers by means of a sin­gle Eu­ro­pean bank­ing su­per­vi­sion sys­tem and – in the event of a cri­sis – a sin­gle bank res­o­lu­tion mech­a­nism.

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Customs union

For more than 50 years, the Eu­ro­pean cus­toms union’s stan­dard­ised sys­tem for the trade in goods has been en­sur­ing that goods can cir­cu­late freely with­in the EU

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Capital markets union

The cap­i­tal mar­kets union will strength­en the Eu­ro­pean econ­o­my and pro­mote cap­i­tal mar­ket fi­nanc­ing to com­ple­ment bank-based loans. It is in­tend­ed to deep­en and ex­pand the EU’s sin­gle mar­ket with re­gard to cap­i­tal and fi­nan­cial ser­vices

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Digital financial markets union

Many dig­i­tal in­no­va­tions hap­pen in the area of fi­nan­cial mar­kets and can pro­vide re­al added val­ue for cit­i­zens in their dai­ly lives.

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