The Irish Paschal Donohoe, the only candidate to preside over the Eurogroup

The current president of the Eurogroup, the Irishman Paschal Donohoe, aspires to renew his mandate at the head of the forum that brings together the ministers of economy of the eurozone, from 2023. The member of the conservative political group Fine Gael has presented himself this Thursday as the only candidate for the position, informed the Council of the European Union.

The Irish Finance Minister could remain in office after the elections on December 5, where he would need the support of a simple majority of countries (at least ten of the 19 in the eurozone) to confirm the appointment. After this, the Irish minister could continue for a new term two and a half years starting next January 13.

Donohoe had announced at the last meeting of the ministers in early November your intention to continue in the position, which he agreed to in 2020 after winning the vote over his counterpart, the Spanish Vice President and Minister of Economic Affairs Nadia Calviño.

The Irish initiative means that the country would have two representatives within the Eurogroup. In addition, the president would not be Minister of Finance, since in December he will assume the portfolio of Public Expenditure and Reforms in his country. Traditionally, the leadership of the Eurogroup is attributed to one of the Eurozone Finance Ministers, although it is not regulated.

While Donohoe chaired the Eurogroup, the Fianna Fáil coalition partner, presumably Michael McGrath, would represent Ireland in the Eurogroup with the Finance portfolio.

Donohoe has been the visible head of the Eurogroup during the crises of the pandemic and the war in Ukraine, advocating in both cases for a coordination of the fiscal policies of the countries that make up the forum. In addition, he has led efforts to advance banking unionwithout achieving significant progress in the face of the divisions of the partners.

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