Irish Paschal Donohoe new Euro group chief

The candidate would have been the first woman at the head of the Euro group: Nadia Calviño, Finance Minister and Deputy Prime Minister of Spain. The other candi

Irish Paschal Donohoe new Euro group chief

The candidate would have been the first woman at the head of the Euro group: Nadia Calviño, Finance Minister and Deputy Prime Minister of Spain. The other candidate would have had most experience on the hump: Pierre Gramegna, since 2013, Minister of Finance of Luxembourg.

But of the Three who competed for the presidency for the Club in the 19 Euro area countries, the Irish Paschal Donohoe of the race.

Donohoe, 45 years old, a member of the liberal-conservative Fine Gael party, since 2017, Finance Minister of Ireland, has been supported mainly by the conservative party family, the EPP (in the German - speaking countries: European people's party-EPP). He presents himself as a bridge Builder, someone who can mediate between the sometimes very different interests of the EU States which share the Euro as their currency.

"I am absolutely convinced that I can provide during my tenure for consensus by the entire Euro group shares," he says after his election, by video conference in front of journalists.

the economy of The EU could greatly

a break-in, Although he plays as a Euro group boss is not the main role, when it comes to the billion-dollar construction Fund, the EU must negotiate with States, - nevertheless, he will start his office in a time in which the economic consequences of the corona of a crisis are the Central theme: Only recently, the EU has proclaimed to the Commission that the economy could break in performance in the Eurozone in 2020 to 8.7 percent.

the Finance Ministers of The 19 Euro countries had to choose a new chief, because the former Chairman, Mario Centeno from Portugal, no longer wanted to compete after his two and a half years in office. Mainly, the Euro group deals in their monthly Meetings in order to coordinate the economic policy in the currency zone.

again and again, however, the structure is made - sometimes even the existence - of the Euro group in question. After Donohoes election, the German Green MEP Sven Giegold about writes, you should, and your boss post reform urgently structurally. "If the Eurogroup head is at the same time the national Minister of Finance, are of interest inevitable conflicts."

Two rounds to victory

Donohoe prevailed in two rounds of voting. After the Luxembourg Pierre Gramenga withdrew after the first round, decided by the absolute majority of the round via Video-conference in the second passage for Donohoe. Accurate results have not been published.

Actually, Donohoes opponent, the Spanish Finance Minister, Nadia Calviño was, in the run-up to the favourite, since both the German Chancellor Merkel as well as the southern States of the Eurozone supported you. Especially the countries in the North of the continent, such as the Netherlands, are very critical. Not only because Calviño this once as a "very small States with very little weight," referred to, but also because you, as a representative of a socialist-led government for a comprehensive EU reconstruction program, the grants, instead of loans is based. A thorn in the side of many Northern and some Eastern EU States.

another Argument that could have had a few Finance Ministers in the back of the head, when they voted, is the fact that Spain has with the EU high representative for foreign Affairs Mr Josep Borrell already a high Post in the EU-structure holds.

Donohoe, who gives himself a bridge-Builder, was called this evening on his Desk chair combative: "The challenges are great, but we'll get there, we will overcome."

author: Marina Strauss

*The post "Irish Paschal Donohoe new Euro-groups-chief" is published by Deutsche Welle. Contact with the executives here.

Deutsche Welle
Updated Date: 09 July 2020, 19:26

You need to login to comment.

Please register or login.