BRUSSELS, (Pakistan Point News - 08th Jul, 2025) The Eurogroup on Monday 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 13th July 2025.
In a statement following his re-election, Donohoe said, "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.
“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,” he noted.
He added that a stronger and more competitive euro area would reinforce the euro’s international role and boost the resilience and prosperity of member states.
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.
