At their meeting on 8 November ahead of the ECOFIN Council, ALDE ministers and colleagues of the Renew Europe political family discussed the economic and financial impact of the Russian agression against Ukraine as well as the economic governance review.

Heavy concern was raised on the US Inflation Reduction Act, which goes against our common trade principles and the distortion of free market operation. Our reliable trade relationship should not be jeopardised by favouritism. More dialogue and trade cooperation between the EU and the US to channel and align efforts is needed. It is crucial to work together when it comes to fighting climate change and the economic crisis in the light of the Russian war.

List of participants:

• Annely Akkermann, Minister of Finance (Reform Party, Estonia)
• Bruno Le Maire, Minister of Economy, Finance and Recovery (Renaissance, France)
• Annika Saarikko, Minister of Finance (Centre Party, Finland)
• Yuriko Backes, Minister of Finance (Democratic Party, Luxembourg)
• Klemen Boštjančič, Minister of Finance (Freedom Movement, Slovenia)
  
  
• Timmy Dooley, Co-President ALDE Party (Fianna Fáil)
• Morten Løkkegaard, Member of European Parliament (Venstre, Denmark)
• Stéphanie Yon-Courtin, Member of the European Parliament (Renaissance, France)

Excused Ministers were:

• Christian Lindner, Minister of Finance (FDP, Germany)
• Sigrid Kaag, Minister of Finance and Deputy Prime Minister (D66, the Netherlands)
• Werner Hoyer, President of the European Investment Bank (FDP, Germany)