ECOFIN Council

The Ministry of Finance is primarily responsible for the EU Economic and Financial Affairs Council formation (ECOFIN). ECOFIN is a configuration of the EU Council responsible for EU policy in three main areas: economic policy, tax issues and the regulation of financial services. The ECOFIN Council is made up of the economics and finance ministers from all Member States. Relevant European Commissioners also participate in meetings. ECOFIN meetings generally take place once a month. There are also specific ECOFIN sessions, attended by national budget ministers and the European Commissioner for financial programming and budget, to prepare the EU's annual budget.

About economic and financial affairs policy 

The Economic and Financial Affairs Council is responsible for economic policy, taxation matters, financial markets, capital movements, and economic relations with countries outside the EU. ECOFIN also prepares the EU's annual budget and takes care of the legal and practical aspects of the single currency - the euro. The ECOFIN Council coordinates Member States' economic policies, furthers the convergence of their economic performance and monitors their budgetary policies. It also coordinates EU positions for international meetings, such as the G20, the International Monetary Fund and the World Bank. In addition, it is responsible for the financial aspects of international negotiations on measures to tackle climate change.

The Republic of Croatia is represented by the Minister of Finance at ECOFIN meetings. 
Besides the EU Council, i.e. the ministerial level, the Ministry of Finance also participates in the work of Council preparatory bodies (EU Council working groups/parties and committees), as well as in comitology committees and European Commission expert working groups.