The Council of the European Union is an Institution with a formal legislative role. It is composed of different configurations of national Ministers (one per country). The exact configuration of each meeting depends upon the topic under discussion.
An informal meeting of the Economic and Financial Affairs (ECOFIN) Council is traditionally hosted by the Member State holding the EU presidency. Participants include the EU member states’ ECOFIN-ministers and central bank governors, representatives from the EU institutions and international organisations. The Council meeting is expected to discuss current economic and financial issues and will be composed of two joint working sessions as well as working lunches.