Brussels – Paschal Donohoe is running for a second term at the helmThe Euro Group. He presented a formal candidacy with a clear commitment: more coordination. Inn the letter The dispatch to partners indicates that “strengthening this coordination” is “priority number one.” He thinks it is necessary to fight against energy pricesInflation at an all-time highi” that affects the Eurozone economy.
Irish finance minister Donohoe, 48, took charge of the finance ministers of the countries using the single currency on 13 July 2020. He remembers promising to be “a bridge” when he first ran. Among the different spirits of the group of 19 nations. He promises to continue the necessary activities and actions in “such uncertain times” calling for “this kind of commitment to be even more critical.”
There are currently no other official candidates for the Irishman’s role. You have until 12:00 on 24th November to submit your candidature and the voting will be held on 5th December. A simple majority is enough to be elected, so 10 votes out of 19 members. Numbers that do not currently exist.
Representing the European People’s Party, Donohoe can count on seven party colleagues (Austria, Belgium, Cyprus, Greece, Latvia, Lithuania and Slovakia). Even if the EPP’s finance ministers vote unanimously, they will not get the required majority. All alliances and political negotiations have to be done. There is a A revision of the Stability Pact is at stakeThis may affect the process. However, Donohoe tries again, thanks to the general appreciation he enjoys for the work done.
The outgoing president is seeking re-election, promising “more coordination” in response to challenges
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