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Economic and Financial Affairs Council (ECOFIN), composed of economic and finance ministers of the 27 European union member states, meets for its monthly session.
The council covers the coordination of the economic policies. It monitors the economy and keep control of the budgetary policy, public finances, the euro, financial markets and capital movements.
ECOFIN shapes EU policy in economic and financial areas, in consultation with the European Parliament, and prepares the budget of the European Union which is about 100 billion euro's.