Eurogroup: Donohoe confirmed as president, third term
The current Irish finance minister beat two rivals: Spanish minister Carlos Cuerpo and Lithuanian minister Rimantas Sadzius. Both withdrew from the race in the afternoon when they realised that the Irish candidate had the majority of member states on his side
From our correspondent Beda Romano
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BRUSSELS - Paschal Donohoe, 50, was re-elected today, Monday 7 July, to lead the Eurogroup for the third time. His will be, as usual, a mandate of two and a half years.
The current Irish finance minister beat two rivals: Spanish minister Carlos Cuerpo and Lithuanian minister Rimantas Sadzius. Both withdrew from the race in the afternoon when they realised that the Irish candidate had the majority of member states on his side.
"In the face of significant geopolitical changes, the euro area has shown a high degree of resilience," Paschal Donohoe commented in a statement. During the next mandate, it will be my task to further strengthen our common currency area and facilitate tangible progress in our main policy areas: from coordination of national budgets to capital market union, from the digital euro to banking union.
Previously, five major countries - Germany, France, Spain, The Netherlands and Italy - had submitted a document in which they implicitly criticised President Donohoe's working method.
They called for a reduction in the number of inclusive meetings with non-euro finance ministers; a reduction in the duration of Eurogroup meetings, more careful preparation of political meetings at the technical level; and the avoidance of duplication with Ecofin meetings.
