The Euro Group

 

SUMMARY OF:

Article 137 of the Treaty on the Functioning of the European Union (TFEU) — rules specific to EU countries whose currency is the euro

Treaty on the Functioning of the European Union — Protocol (No 14) on the Euro Group

WHAT IS THE AIM OF ARTICLE 137 OF THE TFEU AND PROTOCOL 14?

• Article 137 provides the legal base for meetings between national ministers of EU countries whose currency is the euro.
• Protocol 14 sets out the practical arrangements for those single currency meetings.

KEY POINTS

• Euro Group meetings:
  • are informal;
  • take place when necessary;
  • consider issues related to governments’ shared responsibilities in the use of the euro;
  • involve the participation of the European Commission and a regular invitation to the European Central Bank;
  • are prepared by euro countries’ national finance ministry officials and the Commission.
• Euro Group ministers elect a president for 2 and a half years.

BACKGROUND

• The Euro Group’s current priority is to ensure close economic policy coordination in the euro area and to promote conditions for stronger economic growth. It adopts its work programme every 6 months.
• It prepares Euro summit meetings and ensures the follow-up of decisions taken.
• It usually meets once a month before the regular meeting all 28 EU finance ministers.
• The first informal meeting of euro area finance ministers took place on 4 June 1998 at Château de Senningen in Luxembourg.

For more information, see:

• Eurogroup on the Council of the European Union’s website.

MAIN DOCUMENTS

Consolidated version of the Treaty on the Functioning of the European Union – Part Three — Union policies and internal actions — Title VIII — Economic and monetary policy — Chapter 4 — Provisions specific to Member States whose currency is the euro – Article 137 (OJ C 202, 7.6.2016, p. 107)

Consolidated version of the Treaty on the Functioning of the European Union — Protocol (No 14) on the Euro Group (OJ C 202, 7.6.2016, p. 283)

last update 09.02.2017