FT: Greek FinMin Pierrakakis Eyed as Successor to Ireland’s Donahoe as Eurogroup Chair

FT’s newsletter on Wednesday has Greek finance and economy minister Kyriakos Pierrakakis as among the “favorites” to replace Paschal Donohoe as the chairman of the Eurogroup.

Donahoe abruptly resigned as Ireland’s finance minister after winning a third term as the head of the Eurogroup, which means he’ll step down from the helm of 20-strong single currency bloc. Donahoe will assume the post of managing director and chief knowledge officer at the World Bank.

According to the Financial Times’ report: “…another favourite is Greek finance minister Kyriakos Pierrakakis, also hailing from the conservative EPP.

“EPP ministers hold a majority of seats in the Eurogroup, so it’s likely they would back a candidate from their own party family. But that doesn’t exclude a second try for Carlos Cuerpo, economy minister in Spain’s left-wing government, who pulled out of the race last time along with Lithuania’s Rimantas Šadžius, a Social Democrat, when it became apparent that Donohoe would win.

“In the meantime, Šadžius has been replaced by Kristupas Vaitiekūnas following a government reshuffle in Lithuania in September, but it’s unclear if Vaitiekūnas will throw his hat into the ring. Asked about the resignation yesterday, Cuerpo thanked Donohoe “for his work at the helm of the Eurogroup” and wished him “all the best in his future responsibilities.”

Source: tovima.com