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On its meeting on 27 February the ECOFIN Council welcomes the Eurosystem's intention to take a final decision on the launch of T2S after consideration of certain issues and completion of the feasibility study. The Council invites the ECB to proceed step by step, examine carefully the results of the consultation and take in particular the following aspects into account when deciding on the way forward on T2S.
It also issued a Council Conclusion on Better Regulation and reduction of EU administrative burdens supporting a reduction target of 25% for administrative burdens arising from EU legislation to be achieved by 2012.
The Council also adopted a key issues paper to be submitted to the European Council on 8 and 9 March, outlining the main policy objectives relating to economy and finance.