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?
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Article 137 provides the legal base for meetings between national ministers of EU countries whose currency is the euro.
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Protocol 14 sets out the practical arrangements for those single currency meetings.
KEY POINTS
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Euro Group meetings:
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are informal;
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take place when necessary;
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consider issues related to governments’ shared responsibilities in the use of the euro;
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involve the participation of the European Commission and a regular invitation to the European Central Bank;
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are prepared by euro countries’ national finance ministry officials and the Commission.
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Euro Group ministers elect a president for 2 and a half years.
BACKGROUND
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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.
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It prepares Euro summit meetings and ensures the follow-up of decisions taken.
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It usually meets once a month before the regular meeting all 28 EU finance ministers.
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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:
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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