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On Monday in Brussels the Ministry of Finance for Eurogroup and ECOFIN work

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Eurozone Finance Ministers to discuss Eurozone macroeconomic developments and prospects

ΤητΕρσ ΒρυξΕλε οΟΙασεσκι >Finance Minister Makis Keravnos is traveling to Brussels on Monday, May 13, in order to participate in the work of the Eurogroup and the Council of Economic and Fiscal Affairs of the EU (ECOFIN).</p>
<p>According to an announcement by the Ministry of Finance, on Monday the Eurozone Finance Ministers will discuss the macroeconomic developments and prospects of the Eurozone. They will then exchange views on how investment in research, innovation and human capital can improve the competitiveness of the EU economy.</p>
<p>Subsequently, it is added, the Finance Ministers of the Eurozone in an expanded composition, i.e. with the participation of all 27 EU member states, will continue the discussion on the next steps to deepen the Capital Markets Union in the EU, following the mandate of the leaders in the last European Council to accelerate the relevant work.</p>
<p>Furthermore, it is reported that on Tuesday, May 14 the Minister of Finance will participate in the work of the ECOFIN Council, whose work will begin with an exchange of views in relation to the economic consequences of of the Russian invasion of Ukraine, in the presence of the Hon. Minister of Economy of Ukraine and the Ukrainian Minister of Finance.</p>
<p>At the same time, the Ministers of Finance will exchange views with the aim of reaching an agreement on the set of proposals of the European Commission on “VAT in the digital age” which aims to fight tax fraud with the use of technology, as well as to make the VAT system more efficient for business.</p>
<p>Ministers will also seek agreement on a general approach on the FASTER proposal which provides for more efficient and safer withholding tax procedures in the EU for investors, financial intermediaries and Member States' tax administrations. The aim, it says, is to fight tax fraud and support cross-border investment across the EU.</p>
<p>The ECOFIN Council will also be informed about the progress of the implementation of the Recovery and Resilience Mechanism and will be asked to approve the amended Recovery and Resilience Plans of Italy and Spain, while Ministers are expected to approve text of conclusions in relation to the fiscal consequences of the aging population, but also the importance of financial education.</p>
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Source: www.kathimerini.com.cy

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