Eurogroup to discuss financial developments after Brexit

11 July 2016
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The Eurogroup convenes on Monday to discuss the economic and financial situation in the euro area.

More importantly, the Finance Ministers of the nineteen euro area countries will be briefed on the developments in financial markets, following the outcome of the UK referendum on EU membership on 23 June.

The Eurogroup will be informed about the main outcomes of the fifth post-programme surveillance review in Ireland and the fourth post-programme surveillance review in Portugal.

The Ministers will also exchange views on the budgetary situation in Spain and Portugal on the basis of possible recommendations by the European Commission relating to the excessive deficit procedure in these countries. Any decisions based on the Commission`s recommendations will be taken by the Council of the EU.

They are also expected to discuss the Euro area fiscal stance based on national stability programmes submitted by the Eurozone member states in the context of the European Semester in April this year.

Last but not least, the Eurogroup will continue its series of thematic discussions on growth and jobs, this time focusing on investment.

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