An investigation into transparency at the Eurogroup, the monthly meeting of finance ministers of the Eurozone, by the EU’s Ombudsman Emily O’Reilly, who believes that more needs to be done to better inform the public about what the Eurogroup financers discuss when they gather for regularly scheduled meetings.
“The financial crisis has demonstrated the impact of the Eurogroup decisions on the lives of millions of citizens. I want to give citizens a visible thread to follow when European decisions are made by their national ministers, and when,” said O’Reilly.
O’Reilly is currently working on a so-called “triple inquiry” into the role of each member in Europe’s decision-making process, which includes the activities of Eurogroup.
She has pointed out that Eurogroup started publishing its agenda and a summary after each meeting beginning in 2016.
Eurogroup’s president, Mario Centeno, has promised to look at how the Eurogroup can become more transparent. Centeno’s spokesperson reacted to O’Reilly’s remarks by underlining that the Eurogroup “stands ready to cooperate with the Ombudsman” in her endeavour.
“The Eurogroup has, in the last few years, brought its transparency practices in line with existing EU legislation. It now publishes its detailed agendas, the summary of its discussions, and meeting documents,” the spokesperson told New Europe. “As a result, there are no material differences in transparency between the Eurogroup and other similar Council formations, in particular, ECOFIN.”