Wed, 12 Aug 2020

Martin says proud achievement by Donohoe to head of Eurogroup

Conor Trindle
11 Jul 2020, 20:41 GMT+10

DUBLIN, Ireland - Taoiseach Michel Martin has congratulated Finance Minister Paschal Donohoe on his election as President of the Eurogroup.

Donohoe will succeed Portugal's Mario Centeno on 13 July, and he will serve for 2.5 years in the role.

The Irish finance minister was elected by his fellow Euro Area Finance Ministers at a meeting of the Eurogroup held by video conference on Thursday. The other candidates were Minister Nadia Calvio of Spain, and Minister Pierre Gramegna of Luxembourg.

The Eurogroup is the body through which Finance Ministers of the 19 Euro area Member States take decisions on policy issues relating to management of the Euro area economy. Finance Ministers of the eight Member States who are not part of the Euro area frequently attend meetings given the importance of the issues under discussion.

The Eurogroup President has a vital role in shaping the agenda and policy response to major economic issues, including the economic impact of the present COVID-19 pandemic. Minister Donohoe is one of the longest-serving EU Finance Ministers and members of the Eurogroup.

"This is a very proud achievement for Minister Donohoe and is a testament to his personal experience and skills," the taoiseach said Friday.

"It is also good news for the country; at such a critical time for the Eurozone economy it is very important to have an Irish voice influencing decisions and economic policy."

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