The Eurogroup Meeting is a meeting of the Finance Ministers of the EU countries and the ECB representatives. The commissioner for economic and financial affairs, taxation and customs also participates in the meeting. It is held on the eve of the Economic and Financial Affairs Council meeting. The Eurogroup is an informal body in the European Union, where the ministers of EU Member States discuss matters relating to the financial policy.
The main task of the Eurogroup is to ensure coordination of economic policies among the Member States. The meeting participants discuss conditions for economic growth and measures to strengthen the financial and economic state of the eurozone.
Other tasks of the Eurogroup include the preparation of meetings at the highest level and the preparation of the Euro Summit meetings and their follow-up. The Eurogroup participants develop provisions on the economic policy and the euro for the Council members to vote on.
Although the Eurogroup is an informal body, it is considered to be one of the most influential bodies of the European Union. Its participants determine the entire financial policy of the eurozone. Therefore, each meeting is closely monitored by analysts and economists. Documents prepared during the Meeting can affect euro quotes.