The new head of the Euro group: An Irishman instead of a Spaniard

It is a whopper of a Surprise: The Irish Finance Minister Paschal Donohoe becomes the new head of the Euro group. The 19 Economics and Finance Ministers of the

The new head of the Euro group: An Irishman instead of a Spaniard

It is a whopper of a Surprise: The Irish Finance Minister Paschal Donohoe becomes the new head of the Euro group. The 19 Economics and Finance Ministers of the Euro area have selected the 45-year-old Economists on Thursday evening in a video conference for two and a half years at their peak. Donohoe prevailed in the second ballot against the Spanish Minister of economic Affairs, Nadia Calviño, who had been considered the favorite, because it had been supported by all major EU countries, including German Chancellor Angela Merkel (CDU) and Finance Minister Olaf Scholz (SPD), open. Behind these four countries, 80 percent of the economic output in the Euro area.

Werner Mussler

economic correspondent in Brussels.

F. A. Z.

Donohoe, Fine Gael belongs to the liberal-conservative party and iris is since 2017 Arabian Minister of Finance. After the parliamentary elections in February and the tenacious formation of a government, his political future was in Ireland unclear. In the two weeks ago, formed a government coalition consisting of the Finn Gael, the also bourgeois Fianna Fail and the Greens, he has assumed the office of the Minister of Finance once again. Its Position in the Euro group, he enters at 13. July. His highest priority was to find a common path, "the European recovery will move forward," said Donohoe, according to the Video Meeting.

Only Scholz congratulated

congratulations received the Ire of all sides. Only congratulated The German Minister Scholz, raised since weeks the impression that the decision in favor of Calviño has already fallen, was limited to the remark that the Irish, "know the many a long time", a "good job" I have. With a view to the outgoing Euro group chief Mário Centeno from Portugal Scholz said: "We miss him already."

The choice between Donohoe and Calviño it had come, after the third candidate, Luxembourg's Minister of Finance, Pierre Gramegna, had withdrawn his candidacy. He appears to have received in the first ballot the lowest number of votes. Gramegnas waiver is likely to have contributed to the fact that Donohoe has received the most votes from the smaller Euro States. Supported him, the Benelux countries, the Baltic States, as well as Slovenia and Slovakia. The (minimum) necessary tenth voice is likely to have come from a very small country such as Malta or Cyprus. Accurate election results were communicated neither to the first nor to the second ballot.

In the choice between Donohoe and Calviño the usual were contrasts between the EU-States: a choice of a small stand against a big country, the social democratic against the Christian democratic party family and a southern country against a state of the "New Hanse". Donohoe but rejected the interpretation that his choice of depth of the trenches. During his "election campaign", he advised with all his colleagues, as well as in a friendly atmosphere. The Chancellor had spoken with the Argument for Calviño, a woman at the top of the panel is desirable.

Updated Date: 09 July 2020, 16:19

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