Paschal Donohoe faces contest to stay on as Eurogroup chair
Minister for Finance
Paschal Donohoe
faces a contest to secure a third term as president of the
Eurogroup
, with two other ministers putting their names forward for the position.
Spanish economy minister Carlos Cuerpo and Lithuanian finance minister Rimantas Šadžius are the other two candidates standing in the Eurogroup election.
The Eurogroup brings together the finance ministers from the 20 euro zone countries to co-ordinate economic policy, with the president tasked with chairing the meetings.
Ministers had until Friday to put their name forward and an election will take place at the next Eurogroup meeting on July 7th. Mr Donohoe had previously indicated he would be running for a third term.
READ MORE
Mr Cuerpo and Mr Rimantas Šadžius had both been sounding out levels of support to stand against Mr Donohoe in recent weeks.
Those in Mr Donohoe's camp are confident of having locked up the backing of more than a dozen capitals. Eleven votes will be needed to clinch the job. Over recent months Mr Donohoe has been busy shoring up support to stay on in the EU role.
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Donohoe 'grateful for strong support' to continue as Eurogroup president
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Mr Donohoe was first elected to the influential role in 2020, beating candidates from Spain and Luxembourg. He was re-elected unopposed in 2022 for a second term. The president, who chairs the meetings of finance ministers, holds the role for two-and-a half years.
The longest serving Eurogroup chair was former Luxembourg prime minister and European Commission president Jean-Claude Juncker, who was in the position from 2005 to 2013.
Mr Donohoe previously said he had received a 'strong level of support' from finance counterparts in other countries, to remain on as Eurogroup chair. He had indicated he would be interested in a third term earlier this year.
Many ministers whose parties sit in the same European grouping as Fine Gael, the centre-right European People's Party (EPP), are supportive of Mr Donohoe remaining in the job.
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