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I will focus on the three topics on the agenda that are close to the ESM, that is Greece. Second, the post-programme surveillance of Portugal, Cyprus, Spain and Ireland. And third, the banking union.

Question on why talks to create a work plan on banking union would be more successful after the German elections, and whether it was disappointing that a working plan was not agreed.

Response by Paschal Donohoe

Greece’s Finance Minister Mr Christos Staikouras visited today ESM headquarters in Luxembourg for a meeting with ESM Managing Director Klaus Regling, ahead of the Eurogroup meeting that will take place in Luxembourg on 17 June. It was a very constructive meeting. They discussed recent developments in the Greek economy and the euro area as a whole, and future prospects.

The Board of Governors (composed of the 19 euro area finance ministers) holds its annual meeting in Luxembourg during which it approves the ESM Annual Report, submitted by the Managing Director. The ESM Annual Report includes a description of the policies and activities of the ESM; the ESM Financial Statements; the external auditor's report, and the Board of Auditors' report in respect of the ESM Financial Statements.

Welcome and programme overview

Panel interview: High level policy dialogue on sustainable recovery