EU Finance Ministers’ Meeting

BRUSSELS (Reuters) – European Union finance ministers convened Monday to discuss strategies in response to the new U.S. administration, focusing on a united front and a competitive EU economy as essential safeguards against transatlantic economic challenges.

During an informal dinner, the 27 finance ministers emphasized that fostering deeper ties with the U.S. serves the best interests of both regions, according to EU diplomats present at the discussions.

A key point of consensus among the ministers was the necessity of low and stable energy prices for prosperity in Europe, with European industries and consumers facing energy costs significantly higher than those in the U.S. and China.

EU diplomats indicated that reducing energy prices is crucial for maintaining global competitiveness. Additionally, a paper from the IMF highlighted that enhanced EU energy-market integration and joint investments could address these energy challenges effectively.

“Most ministers agreed that further integration of the energy market would be beneficial,” reported an EU diplomat.