Finance Minister Makis Keravnos has welcomed the E6 initiative by six EU finance ministers to step up efforts aimed at strengthening the bloc’s competitiveness, resilience and strategic autonomy.

In a written statement issued this week, Keravnos, speaking in his capacity as Cyprus’ Finance Minister and President of the Economic and Financial Affairs Council (ECOFIN), said the initiative forms part of wider European efforts to mobilise private capital, promote the savings and investment union (SIU) and reduce fragmentation across the EU.

According to Keravnos, strengthening the EU’s strategic autonomy has been a key objective of the Cyprus Presidency, which he said has pursued the issue “with consistency and intense activity” over the past five months.

He said the E6 initiative represents “a useful additional contribution” to broader European discussions on the SIU, as well as on enhancing the EU’s competitiveness and strategic autonomy.

Keravnos added that the initiative falls within common European processes and aims to create added value for the European Union as a whole, as also noted in the E6 communication.