The Eurozone finance and economy ministers are set to meet up in Brussels on Monday in a regular monthly meeting of the Eurogroup.

Beginning at 14:00 London time, ministers are scheduled to evaluate the current situation with regard to Greece's economic adjustment programme.

On the agenda, they will also discuss the European Union's (EU) banking union concentrating on the euro area aspects.

Lithuania will also be examined as it continues the process of joining the single currency.

The Eurogroup press release also signalled that there would be a "thematic discussion on reforms aimed at reducing the high tax wedge on labour to promote growth and jobs".

A press conference is currently scheduled for approximately 18:30.

As is usually the case, the Eurozone ministers will be joined on Tuesday by the rest of their EU counterparts at the Ecofin meeting that is scheduled to begin at 9:00 London time.

The group will continue work on the EU banking union with a special focus on the bank recovery and resolution directive and the single resolution mechanism (SRM) designed to carry out the orderly winding down of banks in trouble.

Ecofin will then discuss the priorities of the Italian Presidency for the group's work programme for the second half of 2014. The focus will be on "restoring economic growth and creating jobs".

Along the same lines, the finance and economic ministers will hold a debate on the review of the "Europe 2020 Strategy" that is aimed at creating a long-term growth and jobs plan and is expected to begin early next year.

A press conference is expected to take place after the meeting.

JM

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