The EU ministers of the euro countries (Eurogroup) have formally appointed Irishman Paschal Donohoe as their president for a second term. Although Donohoe will soon have another position in the Irish government, he can stay for another 2 1/2 years.
Donohoe’s current term expires on January 13. The term of the prestigious assignment can be extended once if the Eurogroup agrees. Due to an Irish cabinet reshuffle, Donohoe, 48, will become public expenditure minister in mid-December. This means that later on two Irish ministers will be in the Eurogroup: a new finance minister and Donohoe as the ‘neutral’ president. There were no opposing candidates.
Unusual
It is unusual for two government representatives to sit in the Eurogroup, but it has happened before. Between 2009 and 2013, Luxembourg Prime Minister Jean-Claude Juncker presided over it and also his finance minister Luc Frieden. The Netherlands also had two. This happened after Jeroen Dijsselbloem stepped down as finance minister in 2017, but was allowed to remain Eurogroup president until early 2018. At the time, Wopke Hoekstra was also a member of the Eurogroup as finance minister. Finances.
Minister Sigrid Kaag congratulated the Irishman on Twitter and said he awaited “another period of fruitful cooperation to continue our commitment to a strong and resilient euro area”.
Source: BNR
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