Ireland has publicly opposed a new coordination formula among the largest economies of the European Union, a group dubbed „E6,” which brings together Germany, France, Italy, Spain, the Netherlands, and Poland.
The message from Dublin is clear: decisions made in a small circle risk leaving smaller states out of the game, as noted by Politico.
The Irish Finance Minister, Simon Harris, warned in Brussels that structuring cooperation based on the size of the economy is problematic. He would prefer "a structure where countries come together on issues where they share a common vision, rather than access to the club being based solely on size."
Meetings behind closed doors and plans for financial markets
The statement came after finance ministers from the six major economies met discreetly to discuss accelerating European plans to strengthen financial markets so that the EU can compete more effectively with Wall Street.
For Ireland and Luxembourg, the stakes are direct. Both host a large part of the European asset management industry and oppose the idea of a single EU supervisor for the largest financial players. A faster integration decided in a small circle could diminish their influence.
Monday's meeting was the second of the E6 format, with a new meeting scheduled for March. The frustration of the larger countries is that the EU is advancing too slowly compared to the US and China on strategic economic and industrial issues.
The "Greenland" effect and coordination ahead of the G7
Another factor that hastened coordination among the major European economies was the episode related to Greenland and the political pressures exerted by US President Donald Trump. The theme of securing critical raw materials and positioning the EU in front of major powers became urgent.
German Finance Minister Lars Klingbeil said the Greenland episode was "a wake-up call." He specified that the goal is to agree on common positions to be presented later to European partners and at G7 meetings.
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The next E6 meeting is expected to focus on strengthening the euro's role on the global stage and streamlining defense investments.
The risk of a two-speed Europe
Beyond efficiency arguments, the initiative reignites the debate about a "two-speed Europe," where a core group advances faster while the rest of the states lag behind.
Several European diplomats view the format with skepticism. There is a fear that this club could marginalize the Eurogroup, already an informal body used for sensitive discussions. A European diplomat succinctly summarized the concern: "This will kill the Eurogroup. I think it's a big mistake."
Behind the diplomatic language, a real tension is emerging: large states want speed and strategic coherence, while small states want assurances that they will not be faced with a fait accompli. This divergence could mark one of the most significant ruptures within the EU in the near future.
G.P.