Eurogroup President Kyriakos Pierrakakis is travelling to Paris to take part in a meeting of G7 finance ministers and central bank governors on 18–19 May.
The meeting will be chaired by France, which holds the G7 presidency, the Council of the European Union informed on Friday.
Discussions are expected to focus on the global economy, including the macroeconomic impact of the situation in the Middle East.
Other agenda items include support for Ukraine and reducing global imbalances.
Middle East and global imbalances on the agenda
Pierrakakis said the meeting would provide an opportunity for the European Union to engage with international partners and seek joint solutions that benefit the global economy.
He stated that opening the Strait of Hormuz — a major shipping route for oil and gas — and bringing the conflict to a lasting end were “of the utmost importance” for mitigating economic effects.
He also said the European economy had “proven resilient” during the energy crisis, but the global economy would face pressure “even if the conflict is resolved swiftly”.
On global macroeconomic imbalances, Pierrakakis said reducing them was a shared responsibility of all major economic regions, while noting the EU’s agenda to deepen capital markets and make the European economy “more investible.”
