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ECOFIN Council
9 December 2014

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The Council of the European Union is one of the four main EU institutions. It is composed by the Ministers of the 28 EU Member States. It mostly has a legislative role and amends, by negotiating with the European Parliament, the legislative proposals put forward by the European Commission.

Although there are different configurations of the Council, depending on the portfolio of the Ministers attending the meeting, the Council is supposed to be one single legal entity.

The Economic and Financial Affairs (ECOFIN) configuration of the Council is responsible for the economic policy, taxation and financial services. It is therefore the most crucial formation for Invest Europe Members. ECOFIN meetings occur every month and are usually preceded by a meeting of the Eurozone Finance Ministers, the Eurogroup.

It is important to note that the Ministerial meetings are only the top of the iceberg. Each legislative file is first discussed in daily Working Groups by national attach├ęs and then within weekly Ambassadorial meetings (COREPER). For this reason, only some political issues are discussed at the Ministers level.