Simon Harris to chair two-day meeting of EU finance and economy ministers in Brussels

FINANCE MINISTER AND Tánaiste Simon Harris will travel to Brussels today to chair a two-day meeting of EU finance and economy ministers.

Harris 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.

Ahead of the meeting, a spokesperson said Harris will use the meeting the set out the priorities of the Irish Presidency, which is “focused on strengthening Europe’s competitiveness, security and economic resilience”.

Meanwhile, 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. 

It’s designed to better integrate Europe’s capital markets, making it easier for businesses to access finance and to encourage more productive investment of citizens’ savings.

It aims to enable market participants to operate more seamlessly across EU member states, thus reducing cost differences between domestic and cross-border transaction.

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Speaking ahead of the two-day meeting in Brussels, Harris said Ireland is “determined to broke agreement” on MISP.

He added that the aim is to have a “frank political discussion that identifies the key issues for resolution and builds momentum towards agreement at ECOFIN in October”.

Harris said that reaching agreement on this package will “deepen Europe’s capital markets, support investment and innovation, strengthen competitiveness, and deliver tangible benefits for citizens and businesses across the European Union”.

At today’s ECOFIN meeting, ministers will also receive an update on the economic and financial impact of Russia’s war against Ukraine.

And speaking more broadly on Ireland’s Presidency of the Council of the European Union, Harris remarked that Ireland will play a “central role” in “taking forward the ambitions of the European Union” during this six-month period.

He described the EU presidency as a “rare opportunity to help shape the European agenda at a time of significant geopolitical and economic change”.

Harris added that 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”.

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