Where: Kirchberg building, Luxembourg
Topic: Economy, finance, tax and competition
Organiser: Council of the EU
The Council is expected to adopt a decision modifying the conditions underpinning assistance to Portugal, with a view to disbursement of the next instalment of financial assistance, and a revised recommendation to Portugal on measures to be taken to bring its government deficit below the EU's 3% of GDP reference value in 2014. This follows a review of progress by Portugal in implementation of its economic adjustment programme.
The Council will also be informed of developments regarding the introduction of a financial transaction tax (FTT) in a limited number of member states, through enhanced cooperation. In 2011 the Commission proposed a directive introducing an EU-wide FTT; unanimity in the Council was required for its adoption, but since this wasn't possible, a significant number of member states supported the idea of enhanced cooperation.
Furthermore, the Council will hold an exchange of views on possible changes to the European Semester monitoring exercise. Although the outcome of this year's exercise was considered satisfactory overall, implementation is now being reviewed, in the light of lessons learned.
Finally, the Council will prepare the G-20 finance ministers' and central bank governors' meeting to be held in Mexico City on 4-5 November. It will also prepare the annual meeting of the IMF and World Bank Group, to be held in Tokyo on 12-14 October.
On Monday, 8 October at 15.00 an inaugural meeting of the board of governors of the European Stability Mechanism, will take place followed by a meeting of the Eurogroup at 17.00.
The presidency will hold a press briefing in the Council press room in Brussels on Friday 5 October at 13.00 (tbc). Press conferences will take place at the end of each meeting.
A Presidency briefing, agenda and background note will be published on the Council website closer to the date of the meeting.