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EU finance ministers: Closer attention must be given to hybrid threats

EU2019FIMinistry of Finance 13.9.2019 18.11
Press release
Photo: Lauri Heikkinen / Prime Minister's Office

Resilience to hybrid threats emerged as a key theme on the first day of the informal meeting of EU member states’ finance ministers on Friday 13 September. The ministers also discussed stepping up action to combat climate change.

The meeting was held in Helsinki and chaired by Finland’s Minister of Finance Mika Lintilä.

Financial sector needs stronger capacity to tackle threats and disruptions

The financial sector provides many of society’s most critical services, making it an inviting target for hybrid actions. The EU finance ministers noted that the sector’s capacity to combat hybrid threats and disruptions to infrastructure should be strengthened.

Minister Lintilä stressed the importance of raising awareness of hybrid threats to the financial sector. This was the first time that the finance ministers discussed the issue together. The main themes raised during the discussion were exercises against hybrid threats, information sharing and cooperation between authorities.

According to Lintilä, today's debate represented an excellent step forward.

“Our discussion provided a good start for the finance ministers to assume a more active role in countering hybrid threats. We need to defend against threats to systems that are vital to the functioning of the financial sector, and to react to those threats if necessary – jointly and in a coordinated manner,” Minister Lintilä said.

In addition to hybrid threats to the financial sector, the topics addressed at the first day of the informal meeting of finance ministers included stronger action to mitigate climate change. The climate debate is also on the agenda on the second day of the meeting on Saturday 14 September, when the ministers will discuss energy taxation.

Inquiries

Martti Salmi, Senior Ministerial Adviser, Ministry of Finance, tel. +358 400 510 304, martti.salmi(at)vm.fi
Niina Nurkkala, Special Adviser to the Minister of Finance, tel. +358 50 347 2661, niina.nurkkala(at)vm.fi
Tommi Tolkki, Communications Specialist (requests for interviews), Ministry of Finance, tel. +358 2955 30269 (Presidency media service), press(at)vm.fi

Mika Lintilä
Economic and Financial Affairs Council
climate
energy taxation
financial markets
infrastructures