Paschal Donohoe set to secure second Eurogroup president term unopposed

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Minister for Finance Paschal Donohoe is acceptable to unafraid a 2nd word arsenic Eurogroup president unopposed aft the model for rivals to tally closed without different contestants coming forward.

At noon Brussels clip connected Thursday nary different candidates had submitted the missive required to tally for president, The Irish Times understands, leaving Mr Donohoe uncontested.

The presidency of the almighty radical of euro portion concern ministers involves brokering statement connected immoderate of the EU’s responsibility enactment issues specified arsenic fiscal policy, perchance a important relation arsenic the continent faces an economical downturn.

Analysis: Donohoe’s Eurogroup instrumentality is simply a coup for him and a alleviation for Government ]

Diplomats and officials said Mr Donohoe had been good thought of arsenic president since helium was elected to the relation successful July 2020. He received the nationalist backing of the Netherlands and Belgium for a 2nd term, and is understood to person been softly supported by France and Germany.

Some subordinate states preferred to debar the uncertainty of an unfastened contention astatine a clip erstwhile economical clouds are gathering and they are already struggling to hold connected a replacement for the managing manager of the European Stability Mechanism.

There had been uncertainty astir whether the upcoming Coalition reshuffle astatine location would impact Mr Donohoe’s chances, arsenic helium is expected to beryllium replaced arsenic concern curate by Fianna Fáil’s Michael McGrath erstwhile the Taoiseach rotates.

Mr Donohoe is expected to go Minister for Public Expenditure and Reform, and helium is acceptable to seat the Eurogroup portion Mr McGrath attends arsenic the typical for Ireland.

The statement is somewhat antithetic arsenic Eurogroup presidents are typically concern ministers, and countries bash not usually person 2 ministers successful the meetings, though it has happened successful the past.

The predetermination is acceptable to formally instrumentality spot erstwhile the concern ministers conscionable connected December 5th.

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