The finance ministers of the Eurozone are expected to meet on January 21 for the first Eurogroup meeting of 2019 to discuss the international role of the euro as well as the European Monetary Union – the budgetary instrument for the convergence of the European Stability Mechanism.
The ministers will look into how they are going to revive the European deposit insurance scheme for bank deposits.
Italy and Greece not on the agenda
The Excessive Deficit Procedure that the Commission could trigger against Italy will not be part of the agenda, nor will issues concerning Greece as the Euro Working Group is still waiting for a report on the current situation in Greece more than four months after the Mediterranean nation emerged from its last bailout package following years of tough austerity measures.
ECB chief economist rally
The Eurogroup will nominate a candidate to replace the European Central Bank’s chief economist, Peter Praet, on February 11. Nominations for the job, which includes a seat on the ECB executive board, will close on January 21 during the Eurogroup meeting, with a formal confirmation by EU leaders set for at March 21.