Keravnos in Brussels for talks on deepening capital markets union

Finance Minister Makis Keravnos is in Brussels for the Eurogroup meeting at which ministers are set to discuss macroeconomic developments and prospects in the Eurozone.

Their focus will be on adopting a joint statement regarding the member-states’ fiscal policies for 2025, in line with the expected implementation of the revised EU economic governance framework.

A finance ministry statement said that, within this framework, Cyprus remained steadfast in its commitment to fiscal discipline and the continuation of ambitious structural reforms.

Cyprus supports the close coordination of fiscal policies, which plays a crucial role in reinforcing the strength and cohesion of the Eurozone.

Finance Ministers of the 27 Member States will subsequently engage in discussions about the next steps for deepening the EU’s Capital Markets Union. The objective here is to finalise guidelines for the new European Commission. These guidelines are aimed at initiating concrete legislative actions that could pave the way for a pan-European Capital Markets Union.

Cyprus is in full support of this. The goal is to enhance financing options for businesses and to boost the participation of international investors in the EU capital markets. This would be achieved through the reduction of costs and bureaucracy, the statement concluded.