Germany/Franco-German Financial and Economic Council
On 2 December 2014, the Franco-German Financial and Economic Council (CEFFA) held its 47th meeting at the German Federal Ministry of Finance in Berlin.
During this bilateral meeting, the German Federal Minister of Finance, Dr Wolfgang Schäuble, the German Federal Minister for Economic Affairs and Energy, Sigmar Gabriel, their French counterparts, Finance Minister Michel Sapin and Economy Minister Emmanuel Macron, the President of the German Bundesbank, Jens Weidmann, and the first deputy governor of the Banque de France, Anne de Lorier, discussed current economic and financial issues.
Support for investment in Europe, particularly in the context of the European Commission’s recently-announced initiative, was one of the subjects discussed. The four ministers agreed on a common document, “Supporting investment, moving Europe forward”.
The Franco-German Financial and Economic Council was created in 1988. Made up of the two countries’ economy and finance ministers and central bank presidents, the Council was tasked with strengthening Franco-German cooperation on international economic and financial issues in preparation for Economic and Monetary Union. Two historic decisions have been prepared at the Council: the agreement on the Stability and Growth Pact and the creation of the Eurogroup in 1997./.