Finance Minister and President of the Eurogroup Paschal Donohoe will chair the Eurogroup meeting in Brussels today, with the performance of the euro area economy the main focus of the meeting.

Mr Donohoe will also attend an ECOFIN meeting tomorrow, the first of the French Presidency of the Council.

Today's Eurogroup meeting will examine the resilience of the euro area economy compared to other large economies.

The euro area economy is recovering at a faster pace than previous crises, with 5% GDP growth estimated for 2021.

The recovery is evident in labour market performance and the the unemployment rate in the euro area of 7.2% is now slightly below the unemployment rate when Covid-19 first hit.

The Eurogroup meeting will establish key policy priorities for economic policy action to support the recovery.

The ministers will also exchange views on the economic governance framework applied to the euro area for the first time since the European Commission launched its review.

Today's meeting will welcome a number of new Ministers for Finance, representing Austria, Bulgaria, Czech Republic, Germany, Luxembourg, Sweden, Romania, and the Netherlands.

Over the next couple of days, Mr Donohoe will also meet bilaterally with Ministers from Austria, Luxembourg and the Czech Republic.

"I look forward to chairing the first Eurogroup meeting of the New Year and hearing the policy priorities of new Governments from across Europe. We will reflect on the results of our efforts to coordinate our response to the pandemic, which has mitigated the impact on our economies, our businesses and our citizens," he said.

"With many new colleagues attending Eurogroup for the first time, I hope we can begin the New Year re-energised to deliver Eurogroup's key priorities of fiscal and economic coordination and delivering a sustainable economic recovery," Mr Donohoe added.