Portuguese social democrat Finance Minister Mário Centeno was elected new Eurogroup President for the next 2.5 years, after a voting that was concluded in three rounds. Mário Centeno will succeed Jeroen Dijsselbloem and will take up his new duties on January 13, 2018. In a press conference after the voting, Mr. Centeno stated that he was honored to be elected as the new Eurogroup President. He also underlined the need to ensure financial stability in the Eurozone in the future, to focus on the convergence of the Eurozone economies and to build a more resistant Eurozone.

European Commissioner for Economic and Financial Affairs Pierre Moscovici, after congratulating the new President, stated that the latter’s duties include the intensification of the Economic and Monetary Union, as well as the smooth conclusion of Greece’s bailout program. On his part, ESM Managing Director Klaus Regling stressed that the “success story” of Portugal, which exited the memorandum, is largely due to Mr. Centeno, and agreed with Commissioner Moscovici that one of his main duties is the conclusion of Greece’s program.

 

Translation: Eleni Gogou