Presidency of the European Union 10/02/2016
Latvian Presidency of the European Union
Every 6 months, on a rotating schedule, a European Union (EU) member state becomes the presiding state and is leading the work of the EU Council. The presidency is an opportunity for every member state, regardless of its size or length of membership, to influence the EU agenda and guide EU endeavors.
The Presidency organizes and provides leadership to the EU Council, COREPER (Permanent Representatives Committee), and working group meetings. There can be up to 2000 meetings during the 6 month period. The objective of the Presidency is to be a neutral mediator.
Additionally, the Presidency’s tasks are to act as a coordinator within the EU Council, work with other member states, and the EU Council General Secretary, as well as with the European Commission, European Parliament and the President of the European Council. The Presidency represents the EU Council in relation with the European Commission, and acts as the EU Council’s representative outside the EU.
The first semester of 2015 Latvia held the The Presidency of the Council of the European Union, becoming a part of the EU decision making process and by taking on the presiding state function. Latvia showed its willingness and readiness for governance at the highest level of the EU.
Luxembourg will hold the Presidency of the Council of the European Union in the second semester of 2015.
The priorities of the Luxembourg Presidency for the second semester of 2015 in financial sector include work towards implementation of the European Fund for Strategic Investments, promotion of Capital Markets Union, as well as focus on banking structural reform and annual budget negotiations in order to reach an agreement on the European Union's 2016 budget.