Paschal Donohoe will be the new President of the Eurogroup

The new Minister of Finance of Ireland, Paschal Donohoe, has imposed on his second vote the Spanish Vice President and Minister of Economic Affairs, Nadia Calviño, being selected to head the Eurogroup. The appointment is expected to take place on July 13.

The Irishman has considered as an “immediate priority”, for two and a half years, to design a “common path” to be able to build the “recovery of Europe” in the face of the biggest recession in the history of the EU that has caused the coronavirus pandemic since March.

Despite the fact that Calviño’s campaign had garnered significant public support from large euro countries such as Germany, Italy and finally France, Donohoe has been the most prominent after Luxembourgish Pierre Gramegna withdrew from the race after the first round in which none of the three applicants managed to gather more than 10 supports.

Congratulations from Calviño

Despite the defeat, the Galician minister sent a message of congratulations to the new representative of the Eurogroup through the social network Twitter, showing his confidence to “continue working together to ensure a solid recovery that leaves no one behind.”

Calviño’s defeat has turned out to be a new disappointment for Spain, after Luis de Guindos, economy minister in the Mariano Rajoy governments, also tried to get the position in 2015 and 2017.

However, Donohoe is expected to start his management plan against the Eurogroup at a meeting scheduled for September 11. He will be the fourth person to lead the meeting of Eurozone finance and economy ministers after Luxembourgish Jean-Claude Juncker, Dutchman Jeroen Dijsselbloem and Portuguese Centeno.

K.Villarroel

Source: Finanzasdigital