BRUSSELS (Reuters) – European Union finance ministers agreed on Monday to remain united of their method to the brand new U.S. administration and {that a} extra aggressive EU financial system was the very best safety from potential transatlantic financial challenges, EU diplomats mentioned.
At a casual dinner, the EU’s 27 finance ministers additionally agreed that deeper ties with the U.S. had been in the very best pursuits of each the EU and the U.S., EU diplomats accustomed to the discussions mentioned.
There was additionally settlement among the many ministers that low and secure power costs had been key to prosperity in Europe, as a result of the bloc’s trade and shoppers pay twice as a lot as their counterparts within the U.S. and 4 instances as a lot as in China.
Decreasing power costs was subsequently essential for Europe to remain aggressive within the world financial system, diplomats mentioned.
The IMF mentioned in a paper ready for the discussions that additional EU energy-market integration and joint funding would remedy the difficulty.
“Most ministers agreed that additional integration of the power market could be useful,” an EU diplomat mentioned.
