The Eurogroup has today elected by consensus, Paschal Donohoe, Minister for Finance of Ireland, as its President for a third term. His new term, lasting two and a half years, will commence on 13 July 2025.
| “It has been a great honour and privilege to serve as President of the Eurogroup since 2020. I am very grateful to my fellow ministers for the trust they have placed in me to continue leading our important work for a third term.
As I promised to ministers in 2020, I have been – and will remain – a genuine and honest broker in our negotiations, ensuring that all voices and positions are taken into account. In the face of significant geopolitical changes, the euro area has proven to be very resilient. It will be my task to further strengthen our common currency area and facilitate tangible progress on our key work streams during this next mandate – from budgetary coordination to the Capital Markets Union, and from the digital euro to the Banking Union. A stronger and more competitive euro area will reinforce the international role of the euro, further enhance our resilience and prosperity to the benefit of our citizens.” |
| — Paschal Donohoe, President of the Eurogroup |
The President has been in office since 13 July 2020.
Background
The Eurogroup is an informal body created in 1997 in which the ministers from the euro area member states discuss matters relating to their countries’ common responsibilities related to the euro. Its main task is to ensure close coordination of economic policies among the euro area member states. It also aims to promote conditions for stronger economic growth and is responsible for preparing the Euro Summit meetings and for their follow-up. It usually meets once a month, on the eve of the Economic and Financial Affairs Council meeting.
The first Eurogroup meeting took place on 4 June 1998 in Luxembourg. The first President of the Eurogroup was Jean-Claude Juncker. He was succeeded by Jeroen Dijsselbloem, Mário Centeno and Paschal Donohoe, who was elected President of the Eurogroup for the first time on 9 July 2020.
- Biography of Paschal Donohoe
- List of members of the Eurogroup
- EU Treaty – Protocol 14 on the Eurogroup
- Eurogroup (background information)
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