PES Finance Ministers: better sources of financing for a Social Europe


ECOFIN meeting, 20 February 2017

The Finance Ministers of the PES family called for deeper European cooperation and coordination to address current political and economic challenges, and in particular protectionism and populism.

Pier Carlo Padoan, Italian Finance Minister and chair of the PES ECOFIN Ministers’ Network, commented after the meeting:

Over the past years we have fought hard to change the policy mix in Europe and ensure that economic growth and social wellbeing are the main goals. Today we discussed how geopolitical shifts like Brexit and the new US Administration attitude towards multilateralism and global trade could affect growth perspectives in Europe, and how progressive policies can provide solutions to these economic and political challenges.’

The Ministers reflected on how a reformed EU budget could unleash additional resources to foster investments, growth and jobs. The meeting was also attended by Mario Monti whose working group has recently put forward recommendations on the future financing of the EU including EU Own Resources.

Minister Padoan said:

I am very pleased that Professor Mario Monti was here with us today. We had the chance to discuss how to reform and strengthen the EU budget by introducing new sources of EU-wide financing and decreasing the financial burden of national contributions. The EU budget is a fundamental tool that Europe has at its disposal to improve the lives of Europeans, promote equality, cohesion, economic growth, jobs, and innovation. We need a serious discussion on how the EU budget is to be financed in the future, in order to ensure that our common financial resources address the needs of our societies.


Participants to the meeting:

Pier Carlo Padoan, Finance Minister, Chair, Italy
Michel Sapin, Finance Minister, France
Edward Scicluna, Finance Minister, Malta
Jeroen Dijsselbloem, Finance Minister, The Netherlands
Mario Centeno, Finance Minister, Portugal
Ricardo Mourinho Felix, State Secretary at the Ministry of Finance, Portugal
Peter Kazimir, Finance Minister, Slovakia
Karolina Ekholm, State Secretary at the Ministry of Finance, Sweden
Leif Jakobsson, State Secretary at the Ministry of Finance, Sweden
Euclid Tsakalotos, observer Finance Minister, Greece (SYRIZA)
Giannis Maniatis, observer Member of Parliament, Greece (PASOK)
Mario Monti, Chair of the High-Level Group on Own Resources, Italy
Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs, European Commission
Udo Bullmann, Vice-President of the S&D Group in the European Parliament 
Roberto Gualtieri, Chair of the ECON Committee in the European Parliament 
Pervenche Beres, S&D Group Coordinator for the ECON Committee in the European Parliament 
Yonnec Polet, Deputy Secretary General, PES