Ecofin in Brussels: EU strengthens fight against tax violations and discusses economic security

A meeting of the EU Finance Ministers Council (Ecofin) will take place in Brussels on Tuesday, chaired by Cypriot Finance Minister Makis Keravnos. The meeting occurs against a backdrop of geopolitical instability and the growing need to strengthen the economic resilience of the European Union.

The agenda includes a wide range of issues, including the fight against fraud and tax evasion, the integration of European capital markets, reduction of administrative burden, and assessment of the economic consequences of international crises. Ministers will pay special attention to the consequences of the conflict in the Middle East and its impact on the EU economy more than two months after the start of the crisis.

A key point will be the discussion of a new pan-European system for countering tax abuse. The proposed package of measures provides for increased cooperation between national tax authorities and European structures, as well as expanded access to databases for more effective detection of cross-border fraud schemes.

Another important topic will be the promotion of capital market unification and the development of the Savings and Investment Union. Although the basic goals are supported by most EU countries, disagreements remain regarding the degree of supervision at the European level and the distribution of powers between institutions.

Ministers will also discuss support for Ukraine, including the implementation of a €90 billion EU loan package, as well as measures to improve the efficiency of European legislation by reducing administrative costs.

According to diplomats, despite the complexity of the agenda, there is continued consensus among member states on the need to accelerate economic integration and achieve key reforms by 2026.