Reforms, Stability, Public Finances in Focus of ECOFIN Presidency
Finance Minister Andrej Bajuk, the current chair of the Economic and Financial Affairs Council (ECOFIN), highlighted on Tuesday economic reforms, financial stability, the quality of public finances, the fight against tax fraud and reduced VAT rates as the main priorities of the Slovenian EU presidency.
The Lisbon Strategy is already yielding results and the overhauled guidelines for growth and jobs do not need changing, Bajuk said.
As for the stability and growth pact, the minister underlined the encouraging consolidation of public finances last year and said that the "positive momentum" needed to be maintained.
He also said Slovenia would continue the work of its predecessors at the helm of the EU, Germany and Portugal, on the quality of public finances, in particular the efficiency of social transfers and public spending on education.
Bajuk highlighted the directive Solvency II, which is designed to protect insurance policy holders, boost competition and put in place new supervision policies.
He said the insurance industry needed a modern framework, while the directive would also boost competitiveness in the sector.
The Slovenian presidency awaits European Commission proposals on investment funds and financial insurance, said Bajuk, who announced a launch of debate without delay.
Measures aimed at combating tax fraud would be taken "with full determination".
Finally, Bajuk believes that the ECOFIN should also debate the climate-energy package which the Commission will unveil this week, as it will have economic effects.
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