ECOFIN
About the committee
The Economic and Financial Affairs Council (ECOFIN) is one of the ten configurations of the Council of the European Union. It brings together the economic and finance ministers of all EU Member States and is primarily responsible for EU-level economic policy, taxation matters, financial markets regulation, and the EU budget. ECOFIN also plays a key role in monitoring Member States’ economic policies and coordinating responses to financial crises. ECOFIN was formally established with the creation of the Council of the EU in 1958, under the Treaty of Rome. It meets monthly in Brussels or Luxembourg and works closely with institutions such as the European Commission and the European Central Bank. Its decisions, while influential, often require consensus or further approval through the broader EU legislative process. EU ECOFIN is central to the economic governance of the European Union and plays a crucial role in shaping fiscal stability and financial cooperation across the continent.
Agenda Item
Economic measures that can be taken in response to an impending war
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As tensions rise and the world teeters on the brink of conflict, ECOFIN takes the stage. In this high-stakes committee, delegates will explore how nations and international organizations can use economic tools as a first line of defense. From sanctions and trade embargoes to strategic financial aid and economic diplomacy, this agenda invites delegates to develop real-world responses to the coming war. Can economic pressure prevent escalation? Or will it deepen divisions? What economic actions should the European Union take in the event of war?