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At the General Affairs Council on 16 October in Luxembourg, Lithuanian Vice-Minister of Foreign Affairs Vytautas Leškevičius stressed that the enlargement of the European Economic and Monetary Union could not decompose internal market.

“It is necessary to ensure that developments in the Economic and Monetary Union do not distort central principles governing the internal market, nor widen the gap between the euro area and non-euro area countries. When creating a single European banking supervision mechanism, it is especially important to ensure the same opportunity for participation and the right to vote to euro area and non-euro area countries,” Leškevičius said.

He added that before creating new fiscal solidarity instruments for the euro zone, it was necessary to assess the effectiveness of existing measures and their usage.

The General Affairs Council prepared for the European Council meeting on 18-19 October, reviewed progress in the implementation of the compact for growth and jobs, and future of the Economic and Monetary Union.

Lithuanian Vice-Minister of Foreign Affairs welcomed draft conclusions for the European Council meeting, which call for accelerated development of the internal energy market and digital single market, and for more active strengthening of trade relations with the EU’s neighbours.

Before the Council meeting, Ministers also continued the discussion on the EU’s multiannual financial framework that had lasted already more than a year. The Vice-Minister reiterated that in order to generate optimal economic growth and job creation, it was important to more effectively use the budget instead of reducing it.

Undoubtedly, the basic principle must be that of quality of expenditure. However, we need to agree on such financing, which would be sufficient for attaining the EU’s objectives,” Leškevičius said.

The Ministers also confirmed that the special European Council meeting to be held on 22 and 23 November was dedicated exclusively to the EU’s multiannual financial framework 2014-2020.