A smooth functioning of EMU calls for close coordination of economic policies, including structural policies, which are important for the adjustment capacities of the economies participating in the euro area.
The EPC - Eurogroup was established in June 2005 with a view to prepare the Committee’s contributions for the Eurogroup. It works on the basis of analysis by the Commission, the ECB, Member States, or the Secretariat as appropriate.
To prepare the Committee’s contributions for the Eurogroup and hence contribute to integrating structural reforms in the European Monetary Union coordination framework.
The items prepared are related to structural issues such as the Lisbon agenda from a euro area perspective, with a view to identifying reform priorities which have a particular importance for the smooth functioning of the euro area.
The EPC - Eurogroup is composed of members of the administration of the Member States which have adopted the euro, usually the Head of the EPC delegation, the Commission, and the ECB.
There is close interaction with the work of the Committee and occasionally with the work developed by the Country Reviews Working Group. In preparing specific input for the Eurogroup, the group liaises closely with the Eurogroup Working Group of the Economic and Financial Committee.