The analysis of the European Union’s latest Ageing Report provided in the Finance Ministry’s June 2018 monthly report shows that the long-term sustainability of public finances in the EU member states continues to face major challenges as a result of demographic change. Germany is disproportionately affected by increases in age-related spending.

European finance ministers convened in Brussels on 24-25 May 2018 for their monthly Eurogroup and ECOFIN Council meetings. The ECOFIN Council reached an important agreement on the “banking package” that will pave the way towards the completion of the banking union. If a crisis occurs in the future, banks, shareholders and creditors – not taxpayers – will be liable for losses.

Brexit presents the EU27 with the challenge of maintaining the unity of the EU, upholding the integrity of the single market, and limiting damage to citizens and companies. There will be two years of negotiations between the EU27 and the UK, starting with talks about an exit deal. Later in the negotiations, the two sides will discuss their future relations.

An interview with Wolfgang Schäuble about global problems and European solutions. The interview was published in the 23 July issue of Bild.