Weighty issues at meeting of finance ministers

The informal meeting of EU finance ministers kicks off in Göteborg. At a press conference ahead of the meeting, Swedish Minister for Finance Anders Borg and Minister for Financial Markets Mats Odell talked about the issues to be addressed at the meeting.

Anders Borg opened the press conference by explaining the overall aims of the meeting. The first is to begin a discussion on ‘exit strategies’, principles for returning to balanced public finances in the long term. The second is to prepare decisions on frameworks for financial stability, the third regards principles for the financing of measures against climate change, and the fourth is about measures against lasting unemployment.

“With regard to exit strategies, we can see some stabilisation in the world economy and signs of recovery, recovery driven by political measures”, said Anders Borg. He continued:

“It is clear that it is not sustainable to continue with stimulus measures in the long term. It is necessary to design exit strategies, even if implementation will have to wait.”

Financial stability

Minister for Local Government and Financial Markets Mats Odell spoke at the press conference about frameworks for financial stability.

“One of the most important issues is to get in place a new structure for supervision of the financial markets”, he said, going on:

“We must work together to reach a political agreement. It is time for the leaders of Europe to show global leadership.”

Structural reforms will also be discussed at the informal ministerial meeting.

“We need to stimulate growth and increase flexibility on the labour market”, said Anders Borg.

Climate financing

With regard to climate change and climate financing, Anders Borg expressed his disappointment that the negotiations ahead of the Climate Change Conference in Copenhagen were moving so slowly.

“At the meeting, we will prepare Council conclusions for the European Council in October with the aim of moving the process forward and showing greater EU leadership.”