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 in the framework of the usual meetings between members of the Eurogroup. Both countries maintain excellent bilateral relations and share a common vision on many issues, especially those related to the European Union.

At today's meeting, both ministers addressed various issues of importance to the Eurozone, in particular the situation in Greece after the decision to begin negotiations for the third aid program. 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 coming years, it must be a priority to advance in the internal market, including the creation of a true single financial market. These efforts must occur in parallel to a reinforced commitment to structural reforms at the community level, based on best practices and coordinated approaches.

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

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