The revised recovery and resilience plans for Cyprus, Lithuania, Finland, Luxembourg, Germany, Latvia, Slovenia and the Netherlands, as well as Hungary’s new €10 billion plan, were approved on Friday at the Ecofin in Brussels.

During the council, Cyprus expressed support to the Irish EU presidency’s goal to secure a negotiating mandate at the October council on the market integration and supervision package.

Speaking at the first Ecofin under the Irish presidency, Finance Minister Makis Keravnos said the significant progress achieved during Cyprus’ EU presidency provided a strong basis for continuing the negotiations.

Keravnos said Cyprus agreed with the paper tabled by the Irish presidency, which places particular emphasis on asset management, financial innovation, the supervisory framework and the governance of the European Securities and Markets Authority.

Presenting the Irish presidency priorities, Tánaiste and Minister for Finance Simon Harris said they would focus on competitiveness, security and values, recalling that the presidency’s motto draws on an old Irish proverb meaning “there can be no strength without unity”.