Eurogroup

The Eurogroup meetings are also attended by the Commissioner for Economic Affairs and the President of the European Central Bank. In this forum, the economic policies of the member states of the European Union will be supervised, without forgetting everything that has to do with the euro and budgetary policy.

Functions of the Eurogroup

As the economic body of the European Union, the Eurogroup will have the following powers:

• Assess the economic situation in the euro zone and analyze the future of the European economy.
• Supervise the budgetary policy of the member states of the European Union.
• Study the possible expansion of the euro zone, that is, assess the expansion of the number of countries that use the euro as their official currency.
• Establish and discuss the conditions for those euro zone countries that need financial assistance.
• Work to achieve the stability of the euro.
• Study of the macroeconomic situation of the countries that are part of the euro zone.
• Analysis and debate of the economic reforms to be carried out by the states of the European Union.

How the Eurogroup works

The Eurogroup must meet at least once a month to discuss the economic and monetary affairs of the European Union. These meetings are of an informal nature and the topics discussed in the meetings will be confidential.

Attendees should include the Ministers of Economy and Finance of the member states of the European Union, the President of the Eurogroup, the Commissioner for Economic Affairs and the President of the European Central Bank. On the other hand, the International Monetary Fund can also intervene in this meeting when economic matters in which it is involved are discussed.

Once the meeting is over, the president of the Eurogroup reports the result through a press conference, although there is also the possibility of presenting a written statement.