At the final ECOFIN meeting of 2025, European Commission Executive Vice-President Valdis Dombrovskis addressed several key issues discussed by EU finance ministers.
Dombrovskis highlighted the Commission’s new legislative proposals aimed at providing urgent financial support to Ukraine. He said, “Last night, I presented the Commission’s legislative proposals to provide flexible, urgent and vital financing to Ukraine.” He explained that these proposals include strong guarantees and safeguards to address concerns raised by some Member States and financial institutions about potential retaliatory measures. “These are in place to respond to concerns expressed by certain Member States, notably Belgium, and financial institutions to provide protection from possible retaliatory measures,” he stated.
He also emphasized that the proposals comply with EU and international law and require Ukraine to meet essential pre-conditions for receiving support. Dombrovskis noted widespread backing for these plans: “I welcome the broad support expressed for this at yesterday’s meeting.” However, he acknowledged ongoing work to address specific Member State concerns before next week’s EU leaders’ meeting. Stressing urgency, he said: “Ukraine’s needs are not only sizeable but also urgent. So, I urge Member States to show unity and act now.”
The meeting also covered progress on the Single Currency Package. Dombrovskis reported that discussions have advanced well and are paving the way for a formal Council position soon. This development is expected to help move forward preparations for introducing a digital euro.
Regarding customs policy, ministers approved a temporary €3 duty on low-value consignments entering the EU starting July 2026 until new data systems become operational in 2028. This measure is intended to ensure fair competition for European businesses.
In fiscal matters, Dombrovskis provided updates on countries under Excessive Deficit Procedure (EDP). For Romania, significant fiscal measures adopted over the summer mean no current proposal will be made for suspending EU funds under macroeconomic conditionality rules. However, Malta and Hungary may face stricter procedures in spring 2026 due to risks of deviation from recommended fiscal paths.
He also announced that Finland could enter an EDP following recent assessments confirming its deficit breach. The Commission has proposed steps for Finland aimed at correcting this situation.
On recovery efforts after COVID-19 disruptions, Dombrovskis encouraged Member States to speed up implementation of their Recovery and Resilience Facility (RRF) plans as it enters its final year. He welcomed endorsements of targeted amendments from ten countries including Austria, France, Poland, Portugal, Greece and others.
Discussions included monitoring costs arising from substantial amendments during legislative processes as well as efforts toward simpler financial regulation within the EU’s single market framework.
Finally, Dombrovskis pointed out new initiatives designed to enhance Europe’s financial services sector competitiveness through recently adopted packages focusing on market infrastructure and supervision improvements.
He concluded by thanking Denmark’s Minister Lose and the Danish Presidency for their work over six months advancing common priorities.