The negotiations with the European Parliament on a Single Resolution Mechanism for banks, the ECB quarterly report on the implementation of the Single Supervisory Mechanism, the adoption of the Commission’s Annual Growth Survey 2014 and an Alert Mechanism Report, the endorsement of the EU terms of reference in preparation for the G20 meeting in Sydney, the approval of the recommendations on the EU budget discharge 2012 as well as the priorities for the budget 2015 are the main topics of the ECOFIN Council on February 18 chaired by Greek Minister of Finance, Yannis Stournaras.

During the working breakfast before the ECOFIN meeting, the Finance Ministers will discuss the economic situation and will be debriefed about the Eurogroup meeting of the previous day.

The Council will take stock of negotiations with the European Parliament on a Single Resolution Mechanism for banks (SRM), with a view to agree on an updated mandate to the Presidency (revised general approach) adjusting its position in order to enable further progress in the talks.

The European Central Bank will brief the Council on the first quarterly report on progress in the implementation of the Single Supervisory Mechanism.

The Council is due to adopt conclusions on the Commission’s Annual Growth Survey 2014 and on the third Alert Mechanism Report on macroeconomic imbalances in the member states.

Finance Ministers will also discuss for the preparation of the February G-20 Finance Ministers’ and Central Banks Governors’ meeting in Sydney and will endorse the relevant EU terms of reference.

Finally, the Council is expected to approve a recommendation on the discharge to be given to the Commission in respect of the implementation of the EU’s budget for 2012 and it will set priorities for the budget for 2015.

The Eurogroup will meet on Monday 17 February. It will be followed by an expanded Eurogroup meeting at ministerial level to assess progress on an Intergovernmental Agreement on a Single Resolution Fund for banks (SRF), and to discuss outstanding issues.

The ECOFIN Council will be followed by a meeting, at the level of experts, of the Intergovernmental Conference on the SRF.

Press conferences:
•    After the Eurogroup meeting (Monday)
•    After the ECOFIN: Joint Press Conference with Eurogroup President (Tuesday)