Eurogroup, Looking Past Period of Crisis, Picks New Leader From Portugal
- 6 years ago
Eurogroup, Looking Past Period of Crisis, Picks New Leader From Portugal
Mr. Giegold, who is German, said that Mr. Centeno, in his role as Portugal’s finance minister, had resisted pressure to cut pensions and had argued
that austerity was not the right way to help a country in crisis.
The move could signal that austerity policies imposed on struggling countries like Greece are nearing an end, and
that rather than simply trying to survive, the 19 finance ministers who make up the Eurogroup are debating how to make the bloc less susceptible to future crises.
Referring to a Eurogroup decision in 2013 to force depositors to share in losses by Cypriot banks, he said
that he "would be the first to reflect that my communication at the time could be better, but in substance I think we took the right decisions." It is unlikely that Mr. Centeno could have been elected as Eurogroup president a few years ago.
Alexis Tsipras, the left-wing politician who is Greece’s prime minister, called Mr. Centeno’s election "very promising." In an interview with the Portuguese newspaper Diário de Notícias, Mr. Tsipras said he hoped
that Mr. Centeno would make the Eurogroup’s deliberations more transparent.
European said that It’s very important to build a eurozone that is resilient,
The center of gravity on the Eurogroup was already shifting after the departure of Wolfgang Schäuble, the German
finance minister who was the group’s dominant member and a leading advocate for austerity policies.
Mr. Giegold, who is German, said that Mr. Centeno, in his role as Portugal’s finance minister, had resisted pressure to cut pensions and had argued
that austerity was not the right way to help a country in crisis.
The move could signal that austerity policies imposed on struggling countries like Greece are nearing an end, and
that rather than simply trying to survive, the 19 finance ministers who make up the Eurogroup are debating how to make the bloc less susceptible to future crises.
Referring to a Eurogroup decision in 2013 to force depositors to share in losses by Cypriot banks, he said
that he "would be the first to reflect that my communication at the time could be better, but in substance I think we took the right decisions." It is unlikely that Mr. Centeno could have been elected as Eurogroup president a few years ago.
Alexis Tsipras, the left-wing politician who is Greece’s prime minister, called Mr. Centeno’s election "very promising." In an interview with the Portuguese newspaper Diário de Notícias, Mr. Tsipras said he hoped
that Mr. Centeno would make the Eurogroup’s deliberations more transparent.
European said that It’s very important to build a eurozone that is resilient,
The center of gravity on the Eurogroup was already shifting after the departure of Wolfgang Schäuble, the German
finance minister who was the group’s dominant member and a leading advocate for austerity policies.