European Council: The annual ECOFIN-EFTA meeting focused on economic growth and investments

08 November 2016

In the context of the moderate economic recovery in Europe, EFTA economic and finance ministers and ECOFIN ministers focused their discussion on the appropriate policy strategy to strengthen economic growth and employment, with an emphasis on boosting subdued investments across the continent.

Whilst recognising the EFTA countries' investments are close to pre-crisis level, all parties acknowledged the importance of policies aimed at boosting investment levels in Europe. In this area, structural reforms to enhance productivity and remove investment barriers, sound financial regulation aimed at channelling savings into investment projects and completion of the single market were emphasised by ministers. The EU's investment plan for Europe was seen as an important driver of such policy efforts.

The ministers also recognised the significant level of interdependence between the EU and EFTA economies. An economic downturn in one group of countries can have an immediate knock-on effect on other parts of Europe. The EU and EFTA therefore don't see each other as "third" countries, but as neighbours with the same important economic challenges and priorities. Brexit only provides more impetus to that agenda.

Full press release

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