Econostrum | Economic News in the Mediterranean

Paschal Donohoe takes over the Presidency of the Eurogroup

Written by Frédéric Dubessy on Friday, July 10th 2020 à 12:23 | Read 67 times

Paschal Donohoe takes over the Presidency of the Eurogroup
EU. Ireland's Paschal Donohoe (centre-right) was elected President of the Eurogroup by the Finance Ministers of the Eurozone on Thursday 9 July 2020. He is forty-five years old and succeeds Portugal's Mario Centeno.

Minister of Finance of the Republic of Ireland since June 2017, he was faced with two other candidates, Spain's Nadia Calvino (supported by France and Germany and favourite), who took the election to the second round, and Luxembourg's liberal Pierre Gramegna, who withdrew after the first round.

"The challenges are high, but we are going to meet them", said the new president of the Eurogroup. "European citizens are looking at the state of their national economies and the European economy, and they have become concerned, fearful for their future, their jobs and their incomes (...) We have the capacity, and we have laid the foundations to overcome these challenges and to win," he said.

Paschal Donohoe will take office on Monday 13 July 2020 in Brussels for a two and a half year term. He will chair the monthly and informal meetings of the nineteen Ministers of Economy and Finance of the Eurozone Member States who coordinate national economic policies.

The next meeting is scheduled for 11 September 2020.



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