The Council took note of the presentation by the Portuguese presidency of a work programme for economic and financial affairs for the duration of its tenure, from July to December 2007. The Council held an exchange of views on this subject.

The work programme focuses on the following issues:

economic policy: in particular enlargement of the euro area, implementation of the stability and growth pact, improving the quality of public finances, the Lisbon strategy for jobs and growth and the mid-term review of the European growth initiative; the EU's better regulation initiative, aimed at strengthening European competitiveness; completion of the EU's internal market, especially as regards taxation and the integration of financial markets; the EU's budget for 2008.