Agenda highlights

Enhanced cooperation on the financial transaction tax: state of play 

The Council will discuss the state of play of the ongoing negotiations on the proposal for a directive on the financial transaction tax. 11 member states are currently participating in the enhanced cooperation procedure on the proposed directive, with all member states participating in the discussion.

Base erosion and profit shifting (BEPS)

The Council will exchange views on how to swiftly and efficiently implement the OECD's BEPS project conclusions in the EU context, including through EU legislation.Ministers will be briefed on the state of play of discussions on the international anti-BEPS aspects of the proposal for a common consolidated corporate tax base (CCCTB).

The Council is expected to adopt two sets of Council conclusions: one on BEPS in the EU context, and the other on the future of the code of conduct on business taxation.

Capital markets union: securitisation

The Council is expected to endorse its negotiating position (the 'general approach') as regards two legislative proposals concerning securitisation. The overall aim of the package is to revive the EU securitisation market in order to help improve the financing of the EU economy. The package is among the first building blocks of the capital markets union. 

Banking union

The Council will exchange views following a presentation by the European Commission on a proposal for a regulation establishing a European deposit insurance scheme and on a Commission communication entitled "Towards the completion of the Banking Union".

Ministers will also be briefed on the ongoing implementation of banking union legislation, including the ratification of the intergovernmental agreement on the single resolution fund as well as the transposition of the bank recovery and resolution directive and the deposit guarantee scheme directive.

Flexibility in applying the rules of the Stability and Growth Pact

The Council will be informed about the agreement reached by the Economic and Financial Committee on a text for a commonly agreed position on flexibility within the Stability and Growth Pact (SGP), which will be taken into account by the Commission in its fiscal surveillance assessments. Flexible application of the SGP rules should support the EU's efforts to increase investment levels and encourage structural reform.

The fight against the financing of terrorism

The Council will exchange views following a presentation by the European Commission on the next steps to reinforce the European framework in the fight against the financing of terrorism.

European Semester

The Commission will present to the Council the annual growth survey for 2016, the Alert Mechanism Report 2016 and the draft Council recommendations to the euro area.