Finance Ministers of Czech Republic and Luxembourg meet in Prague

Prague, March 12th, 2009

On 12 March 2009 Czech Finance Minister Miroslav Kalousek briefly met Prime Minister and Finance Minister of Luxembourg Jean-Claude Juncker, who was on an official visit to the Czech Republic.

The Ministers talked about issues related to the current financial and economic crisis in the EU including Europe’s macrofinancial stability and ways to help countries faced with significant imbalances. They also addressed the EU’s fiscal situation. They agreed that even in difficult times it is necessary to adhere to principles of budget responsibility and to maintain the long-term sustainability of public finances.

They also paid attention to the reform of the international financial system which is currently the subject of intensive discussions in Europe and also among the world’s 20 largest economies (G20). Finally, they exchanged views on several taxation issues that are now being discussed at EU level. The Prime Minister of Luxembourg congratulated the Czech Presidency on the agreement concerning application of reduced VAT rates in certain sectors, reached at the ECOFIN Council meeting on Tuesday.

Radka Kohutová,
Spokeswoman of the Ministry of Finance