PES Party of European Socialists : Finance Ministers discuss the economic priorities and challenges for 2016

The Party of European Socialists Finance Ministers met today in Brussels prior to the ECOFIN Council to coordinate their positions. The Ministers discussed the state of play of implementation of the Banking Union and exchanged their views on the economic and financial priorities and challenges they foresee in the future.

Lithuanian Finance Minister Rimantas Sadzius and chair of the network stated: 'Priority now must be given to completing the Banking Union with the implementation of its final pillar the European Deposit Insurance Scheme for protecting depositors in case of financial shocks. Safeguarding people's savings and ensuring that the financial sector is accountable, viable, and contributes its fair share are fundamental. This complements our continued efforts to relaunch sustainable economic growth via intensified investments, notably through the European Fund for Strategic Investment (EFSI). Our goal is to create new and decent jobs, to bridge inequalities, and to ensure the durability of our social model. Unity, equality and solidarity should guide our discussions for greater progress.'

The meeting was also attended by French Finance Minister Michel Sapin, Italian Finance Minister Pier Carlo Padoan, Portuguese Finance Minister Mario Centeno, Slovakian State Secretary at the Ministry of Finance Ivan Lesay, Swedish Finance Minster Magdalena Andersson, Swedish State Secretary at the Ministry of Finance Karolina Ekholm, Maria Joao Rodrigues Vice President of the S&D Group in the European Parliament, and Elisa Ferreira S&D Group Coordinator of the Committee on Economic and Monetary Affairs.