The Euro Summit was held in inclusive format with all 27 EU leaders present, focusing on the economic and financial situation of the European Union.
EU leaders also discussed the coordination of fiscal policies, the EU’s economic governance framework and the financial architecture of the Economic and Monetary Union (EMU).
Economic outlook
In a statement, leaders stressed that the EU economies entered 2023 on a healthier footing than previously expected, despite high inflation and energy prices.
EU leaders took note of the letter sent by Paschal Donohoe, President of Eurogroup, on 20 March 2023 and invited Eurogroup to continue to closely monitor economic developments.
Economic governance framework
EU leaders highlighted the importance of the economic governance framework as a key pillar of the architecture of the EMU, as it supports the stability of the euro and the resilience of the euro area economy.
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The financial architecture of the EMU
EU leaders focused on the instrumental role of a strong European financial architecture for attracting sustained investment, supporting innovation and the creation of jobs, and accelerating the green and digital transitions.
They noted that further developed capital markets contribute to improving macroeconomic management in the EMU.
Leaders underlined how the banking union has significantly strengthened the resilience of the EU banking system and called for continued efforts to complete the banking union in line with the Eurogroup statement of 16 June 2022.
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