Economic and Financial Affairs Council (ECOFIN)

ECOFIN is composed of the Economics and Finance Ministers of the Member States, as well as Budget Ministers when budgetary issues are discussed.

 

ECOFIN covers EU policy in a number of areas including: economic policy coordination, economic surveillance, monitoring of Member States' budgetary policy and public finances, the euro (legal, practical and international aspects), financial markets and capital movements and economic relations with third countries.

 

The Eurogroup, composed of the Member States whose currency is the euro, meets normally the day before the ECOFIN meeting and deals with issues relating to the Economic and Monetary Union (EMU). It is an informal body which is not a configuration of the Council.

 

When ECOFIN examines dossiers related to the euro and EMU, the representatives of the Member States whose currency is not the euro do not take part in the vote of the Council.

 

Read more on the ECOFIN Council website.

See also the EU Presidencies.