Remarks by Commissioner Dombrovskis at the ECOFIN press conference

Thank you, Simon. Good afternoon, everyone.

First of all, we take note of the political agreement on the Market Integration and Supervision Package reached at today's meeting.

From the Commission's side, we would have wished for a more ambitious outcome.

But, – while there is still some way to go – today's agreement is an important step in the negotiations.

On a closely related point, we also held a constructive exchange on the competitiveness of Europe's banking sector.

In line with our broader simplification agenda, the Commission wants streamlined rules for the banking sector.

This means removing complexity and duplications while preserving the hard-won resilience of our banking sector.

We want our banks to compete on a level playing field with their international rivals, and to support Europe's long-term growth, innovation and strategic priorities.

The Commission will present its proposals for a banking competitiveness and simplification package in the first quarter of 2027.

Now to the implementation of the economic governance framework.

The Council today endorsed Czechia's revised medium-term fiscal structural plan.

This follows the Commission's positive assessment in July, which found the plan to be in line with the requirements of the fiscal framework.

The Council also adopted a recommendation broadening the national escape clause for Greece to cover measures to enhance energy security.

As we all know, sovereign bond yields across the globe have increased substantially in recent months.

This makes sound fiscal policies more important than ever.

So, the Commission will continue to monitor budgetary developments in all Member States.

And we will present our updated assessments in the upcoming European Semester Autumn Package.

On Ukraine, I provided the regular update.

The economic challenges facing Ukraine are intensifying as a result of Russia's relentless and brutal attacks, including on grain export routes in the Black Sea.

The EU has now paid €16.9 billion in budget support under the Ukraine Support Loan.

With regard to macro-financial assistance, the Commission continues to work intensively with the Ukrainian authorities to ensure that the agreed reforms are adopted.

This will pave the way for the disbursement of the next instalment.

For next year, we have already agreed with Ukraine to move swiftly on allocating €45 billion under the Ukraine Support Loan, subject to the established conditions.

And we are working on a financial strategy to come with a proposal to Council this autumn.

So, the EU is determined to keep playing its part.

It is vital now that Ukraine's other international partners also honour their financial commitments as the country fights for its survival.

Turning to the Recovery and Resilience Facility.

All 27 Member States have now submitted their final payment requests, in line with the 30 September deadline.

€450 billion has already been disbursed to Member States, making a real difference on the ground for citizens and businesses across Europe.

We are now focused on bringing the RRF to a successful conclusion.

Over the coming weeks, the Commission will assess whether Member States have fulfilled the more than 1,800 milestones and targets underpinning those final payment requests.

This will pave the way for up to €123 billion to be disbursed by the end of the year.

So, time is short. And the work is intense.

But we are confident that our careful preparations and cooperation with Member States will allow us to deliver.

I will stop here.

Thank you.