HM Treasury

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UK Presidency of the EU, 1 July to 31 December 2005 - Overview and policy priorities

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The UK held the Presidency of the EU from 1 July 2005 until 31 December 2005. Austria now holds the Presidency of the EU. Find further information about the Austrian Presidency here.

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HM Treasury is responsible for coordinating HM Government’s work on the Economic and Financial Affairs Council (ECOFIN). ECOFIN is a Council of the European Union composed of the Finance Ministers from the 25 Member States. It meets regularly to co-ordinate economic and financial policy in order to deliver growth and prosperity across the Union. During the UK Presidency ECOFIN will meet 5 times. The Chancellor will chair these meetings and the Paymaster General will take the UK seat. In September ECOFIN will meeting informally in Manchester.

ECOFIN’s key responsibilities include:

Policy Priorities:

New global economic trends present both opportunities and challenges to which policy makers in Europe need to respond. The Government will aim, through the Presidency and beyond, to develop a consensus on the need for a more Global Europe: a Europe which by becoming more outward-looking and embracing greater flexibility in labour, product and capital markets, delivers high employment for all its citizens.

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