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The president of the Eurogroup Mário Centeno gave a detailed briefing on the Eurogroup meeting, an informal meeting of the finance ministers of the eurozone, that took place on 8 July in Brussels.
The ministers met a day before a meeting of the Economic and Financial Affairs Council of the Council of the EU, or ECOFIN, which is composed of the finance ministers of all member states.
They discussed the fiscal stance of the euro area, the third enhanced surveillance report on Greece and have been debriefed on the main findings of the eleventh post-programme surveillance mission to Spain, as well as the latest analysis from the ECB regarding the international role of the euro. Regarding Italy, the discussions between the Commission and the Italian authorities have led to significant improvements in the 2019 budget, and the Commission explained its recent decision that an Excessive Deficit Procedure is no longer warranted.
At the ECOFIN meeting on 09 July, the Finnish Council Presidency will present its work programme on economic and financial matters. Ministers will discuss new sources of financing in view of the multiannual financial framework package for 2021-2027.