Minister of finance says it's too early to speak about creating EU finance minister

The European Central Bank

Lithuanian Finance Minister Vilius Šapoka thinks that it is too early to speak about creating an EU finance minister, saying that the focus should now be on planned projects that need to be carried out.

Šapoka's comment came several hours after European Commission President Jean-Claude Juncker said in his State of the Union speech to the European Parliament that the EU should have a minister of economy and finance.

"I am sure that the allocation of posts is not what matters most at the moment. There are a number of major projects in finance. These include the creation of the banking union and the capital markets union and, certainly, deepening of the monetary union. A lot of planned work remains to be done in all areas. I think we need to concentrate on these first," he told BNS.

According to the minister, Lithuania will formulate its position on this issue after the proposal is formally tabled.

"We can discuss various options in the future. I think that since this is an issue for the future, we will then shape our position," he said.

Juncker proposes that the post of a European economy and finance should merge the roles of the EU commissioner for economic and financial affairs and the Eurogroup president. The minister would be in charge of economic and financial issues not only for the eurozone, but for the whole of the EU.

Source: BNS
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