Eamon Ryan (Dublin South, Green Party)
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Question 139: To ask the Minister for Finance the details of the most recent meeting of eurozone Finance Ministers with the European Central Bank. [4800/04]

Róisín Shortall (Dublin North West, Labour)
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Question 165: To ask the Minister for Finance if he will make a statement on his attendance at and participation in the meeting of Finance Ministers in Brussels on 9 February 2004. [4773/04]

Charlie McCreevy (Kildare North, Fianna Fail)
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I propose to take Questions Nos. 139 and 165 together.

I presume the Deputies are referring to the euro group meeting on 9 February which I chaired. I also chaired the ECOFIN Council meeting on the following day. As the Deputies will be aware, the euro group is an informal meeting of the 12 eurozone Finance Ministers which usually takes place on the evening before the ECOFIN Council.

Regarding the substance of the meeting, I reported on my participation, as President of the euro group, in the meeting of the group of seven leading industrial countries, G7, in Florida on 7 February. The euro group noted the outcome of the G7 meeting and the agreement on the statement which was issued following that meeting. It noted that the statement which embodies the position agreed at euro group on 19 January was generally well received.

We discussed updated stability programmes from eurozone members Greece, France, Ireland, Italy, Luxembourg, and the Netherlands. The stability programmes are submitted each year in line with the Stability and Growth Pact. Although these member states each have different budgetary and economic positions, the discussions reinforced the common commitment of all member states to pursuing sound public finances. Council opinions on each of these stability programmes together with a Council opinion on the convergence programme of the United Kingdom were adopted at the ECOFIN meeting on 10 February.

At the euro group, we welcomed an update by the President of the Economic and Financial Committee composed of senior treasury and central bank officials on recent discussions regarding the arrangements for considering the position of acceding countries in relation to the exchange rate mechanism, ERM II. This is a part of the routine and necessary preparation given that acceding countries will be able to enter ERM II after 1 May next. In line with normal procedure, European Central Bank President Trichet participated in the euro group discussions.