Madrid, July 31, 2015.- The Minister of Finance of Portugal, Maria Luís Albuquerque, and the Minister of Economy and Competitiveness of Spain, Luis de Guindos, met today in Lisbon within the framework of the regular meetings between the members of the Eurogroup. Both countries have excellent bilateral relations and share a common vision on many issues, especially those related to the European Union.

At today's meeting, both ministers discussed various matters of importance to the Eurozone, in particular the situation in Greece after the decision to start negotiations for the third aid program. The ministers also spoke of the need to strengthen Europe's economic governance framework and to complete the Economic and Monetary Union with greater integration. For the next few years, it must be a priority to advance in the internal market, including the creation of a true single financial market. These efforts must take place in parallel with a reinforced commitment to structural reforms at Community level, based on best practices and coordinated approaches.

In recent years, Spain and Portugal have implemented ambitious reform agendas that have been endorsed by the Eurogroup. These reforms are undoubtedly bearing fruit. These efforts would have even greater positive effects if coordinated at the European level. Reforms to increase competitiveness, economic growth and employment must be an absolute priority.

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