Irish Finance Min. Re-Elected As Eurogroup Pres. For 3Rd Term

(MENAFN- Kuwait News Agency (KUNA)) BRUSSELS, July 7 (KUNA) -- The Council of the European Union announced on Monday the reappointment of Irish Finance Minister Paschal Donohoe as President of the Eurogroup for a third term lasting two and a half years, following a unanimous decision by the finance ministers of eurozone countries.
A statement issued by the Council noted that Donohoe, who first assumed the position in 2020, was the sole candidate after Spanish Economy Minister Carlos Cuerpo and Lithuanian Finance Minister Rimantas Sadzius withdrew prior to the vote.
Donohoe said in a statement that his new term would focus on "strengthening the euro area and achieving tangible progress on key files," mainly budgetary coordination, the development of the digital euro, and the completion of the Capital Markets Union, aimed at establishing a unified capital market across the European Union.
"A stronger and more competitive euro area will reinforce the international role of the euro and enhance our resilience and prosperity, to the benefit of our citizens," Donohoe stated.
The presidency of the Eurogroup is a prominent position within the EU framework, tasked with coordinating the financial policies of eurozone member states, and gains particular importance during times of crisis. (end)
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