The Economic and Financial Affairs Council, commonly known as the Ecofin Council, is one of the oldest Council configurations. It is composed of the Economics and Finance Ministers of the Member States, as well as Budget Ministers when budgetary issues are discussed, and meets on a monthly basis. It covers EU policy in a number of areas including: economic policy coordination, economic surveillance, monitoring of Member States' budgetary policy and public finances, the euro (legal, practical and international aspects), financial markets and capital movements and economic relations with third countries.

More info on the Council's webpage

This is first ECOFIN meeting of the year. The items on the agenda are: implementation of the Single Supervisory mechanism, presentation of the Presidency work programme, follow-up to the European Council meeting on 19-20 December 2013, implementation of the Compact for Growth and Jobs, implementation of the Stability and Growth Pact.