The Euro Group

The Euro Group is an informal discussion forum for Ministers of Finance and Eco-nomic Affairs from the 15 euro area countries. The Commission and The European Central Bank (ECB) can join the meetings by invitation. Denmark and the other Member States outside the euro do not participate in the Euro Group meetings.

The Euro Group has held meetings since June 1998. The Euro Group normally gathers the day before the ECOFIN Council meetings, which on average take place once a month. The Economic and Financial Committee (EFC) prepares the ECOFIN Council meetings, while the Euro Group meetings are prepared by the EFC mem-bers from the euro area countries.

The Euro Group discusses various economic issues and issues in relation to the EMU: 

• the international economic situation 
• the economic and fiscal situation in the EU member states 
• the introduction of euro in member states 
• coordination of economic policies within the EMU 
• structural reforms and the policy mix in the euro area 
• the external representation of the EMU

On the basis of a European Council decision in December 1998, the chairman of the Euro Group represents the euro area at meetings in the ‘Group of 7’ in discus-sions related to the EMU.

The Euro Group is an entirely informal discussion forum and the ECOFIN Council is the main decision making body on economic policy issues in EU.