UK Chancellor of the Exchequer Jeremy Hunt is planning to attend an upcoming meeting of European finance ministers, people familiar said, in the latest sign of improving relations between Britain and the bloc after years of acrimony since Brexit.
(Bloomberg) — UK Chancellor of the Exchequer Jeremy Hunt is planning to attend an upcoming meeting of European finance ministers, people familiar said, in the latest sign of improving relations between Britain and the bloc after years of acrimony since Brexit.
Eurogroup President Paschal Donohoe is in discussions with Hunt’s team about the chancellor joining a future meeting, according to people familiar with their conversation who asked not to be named.
The invitation was open-ended and was designed to promote financial stability, they added. Hunt will not attend the May 15 Eurogroup meeting in Brussels due to a diary clash but will take part at a later date, one of the people said.
At the recent Spring sessions held by the International Monetary Fund in Washington, Hunt expressed an interest in meeting more regularly with European finance ministers, according to people familiar with his conversations. The discussions in Washington were constructive and useful in tone, one person said.
It’s the latest development in the rapprochement between the UK and the EU since Prime Minister Rishi Sunak and European Commission President Ursula von der Leyen agreed the Winsdor framework on post-Brexit arrangements for Northern Ireland.
Boris Johnson and Liz Truss clashed with the EU during their terms leading the UK, threatening to rip up arrangements needed to keep goods flowing freely over the border. That friction contributed to a drop in trade and undercut sentiment about the UK’s economic future, culminating in a plunge in the pound and British government bonds last year.
Sunak has struck a more cooperative tone, seeking to stabilize both the economy and the relationship with the EU.
It is not unheard of for EU finance ministers to invite representatives from non-EU member states to attend some of their meetings on an informal basis.
A UK Treasury official said Hunt was committed to working with European allies as sovereign equals to tackle shared challenges on inflation, low growth and geopolitical uncertainty.
–With assistance from Alberto Nardelli and Jorge Valero.
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