Poland in the EU

Lecture at the Bruegel Institute

"Unfair tax practices are one of the most urgent business and economic challenges of our time. According to the estimates of the Polish Economic Institute, tax evasions cost the EU 170 billion euros per year. That is why solidarity is the theme of my speech. Poland is effective in combating tax crimes by using modern technologies, but we will not be completely successful if we act on our own only. This is where European solidarity is particularly needed. Poland has proposed a European alliance to combat VAT fraud. The EU needs an accelerated exchange of technology, knowledge and best practices. Solutions that operate in Warsaw can work just the same in Rome, Madrid or Paris." underlined Minister Kościński during the lecture opening his visit to Brussels.

The Minister of Finance referred to the initiative of the Polish government calling for the need to deepen bilateral cooperation between EU countries, in particular the exchange of knowledge, experience, new technologies and tax information in the field of VAT. It is the implementation of a program of strengthening cooperation between EU countries in improving the effectiveness of combating tax fraud, initiated in the summer of 2019 by Poland's Prime Minister Mateusz Morawiecki.

Eurogroup meeting

The finance ministers summarized the work on the possibility of financing the convergence and competitiveness instrument for the euro area. They were also briefed by representatives from Sweden and Denmark about the possible effects of these countries joining the banking union.

ECOFIN Council findings

As part of the next cycle of the European Semester, conclusions on the Annual Sustainable Growth Strategy (ASGS), the alert mechanism report (AMR) and a Council recommendation on the economic policy of the euro area were adopted.

Ministers familiarized themselves with the results of the review of the application and effectiveness of regulations in the field of economic governance in the EU (the so-called six-pack and two-pack), carried out by the European Commission (EC). The Commission announced public consultations on possible changes in this area, and after their completion, possible further steps.

The EC also presented the results of an assessment of Romania's compliance with the deficit and debt criteria set out in the Treaty. The report concluded that the opening of an Excessive Deficit Procedure for Romania is warranted.

The ECOFIN updated of the EU list of non-cooperative jurisdictions. With four new countries (Seychelles, Cayman Islands, Panama, Palau) were added to the blacklist, for failing to live up to their commitments.

Work concerning the EU budget

Guidelines for the EU budget for 2021 have also been adopted. They will then be presented to the European Parliament, the European Commission and other institutions. The highlights include the role of the EU budget in achieving EU goals and policies.

The budgetary procedure for 2021 will be the first of the programming period for 2021-2027. The Council draws attention to the need to respect the arrangements for the new Multiannual Financial Framework and to provide adequate resources to implement EU priorities.

Ministers also agreed on guidelines for G20 meeting in the format of finance ministers and central bank presidents, which will be held on 22-23 February in Riyadh (Saudi Arabia).