Eurogroup ministers including Minister Brian Lenihan, met in Luxembourg on Monday 7 June. Eurogroup Ministers have agreed to gear national fiscal strategies to achieve the announced budgetary targets for 2010 and 2011 which have recently been strengthened significantly in a number of countries and to implement, where necessary, additional measures taking into account differences in fiscal and macro-financial positions.
Eurogroup Ministers have committed to underpin fiscal efforts by strengthening national budgetary framework to reinforce credibility of the budgetary targets and to better reflect the obligations of budgetary discipline undertaken under the Stability and Growth Pact while pursuing the structural reforms agenda, notably in the area of pensions, the labour market and the services sector. Ministers are also committed to fully and strictly implement the surveillance framework defined by the Stability and Growth Pact and to contribute actively to the Task Force set up by the President of the European Council, which will consider ways to strengthen the fiscal surveillance framework as well as the surveillance of competitiveness developments in the euro area.
Full details of the budgetary framework agreed and other issues on the agenda are available here