- published: 27 Jun 2015
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The Euro Group or Eurogroup is a meeting of the finance ministers of the eurozone, i.e. those member states of the European Union (EU) which have adopted the euro as their official currency. It is the political control over the euro currency and related aspects of the EU's monetary union such as the Stability and Growth Pact. Its current President is Jean-Claude Juncker.
The ministers meet a day before a meeting of the Economic and Financial Affairs Council (Ecofin) of the Council of the European Union. This group is related to the Council of the European Union (only eurogroup states vote on issues relating to the euro in Ecofin) and was formalised under the Lisbon Treaty.
The group has no official name, but is colloquially called the "Euro Group" (formerly Euro-X and then Euro-XI in relation to the number of states adopting the euro), was established at the request of France as a policy co-ordination and consultation forum on eurozone matters. The December 1997 European Council endorsed its creation and the first meeting was held on 4 June 1998 at the Chateau de Senningen in Luxembourg .