Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Dijsselbloem should stay as Eurogroup chair after Dutch poll - Slovakia

Published 09/01/2017, 16:16
Updated 09/01/2017, 16:20
© Reuters. Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem attends a euro zone finance ministers meeting in Brussels

By Tatiana Jancarikova

BRATISLAVA (Reuters) - Jeroen Dijsselbloem should stay on as the chairman of euro zone finance ministers regardless of the outcome of a Dutch election in March, Slovak Finance Minister Peter Kazimir said on Monday, adding it was time again to discuss a permanent Eurogroup chair.

Dutch finance minister Dijsselbloem has been chairing the meetings of counterparts from the 19 countries sharing the euro since the start of 2013 and is now in the middle of his second 2.5 year term that expires at the end of this year.

However, he may cease to be finance minister after the Dutch parliamentary election in March, throwing open the issue of succession.

EU officials privately mention Kazimir and Spain's Luis de Guindos as possible replacements for Dijsselbloem, but Kazimir said in a statement in response to these media reports that the Dutchman should complete his term.

"I think that he should finish his second 2.5 year mandate regardless of whether or not he remains the Dutch finance minister after the March election," Kazimir said.

"And who knows, maybe it's the right time to revive the debate on a permanent Eurogroup chief," he said.

EU rules say the euro zone finance ministers who make up the Eurogroup should choose a president with a simple majority. They do not specify whether the chairman has to be a sitting finance minister, although that has been the practice so far.

Yet because of the increased workload since the euro zone sovereign debt crisis and plans to integrate the euro zone even further, euro zone officials have been discussing the idea of a "permanent" Eurogroup chairman.

This would be someone who would remain in office for at least five years and focus on euro zone issues full time, rather than as a task in addition to a normal finance minister role.

The European Commission, the EU executive arm, believes the economic affairs commissioner should permanently chair meetings of euro zone ministers, a view Dijsselbloem has openly opposed.

A potential replacement for Dijsselbloem or his re-appointment would also depend on political horse-trading for top EU jobs among the biggest political parties in Europe -- the centre-right, the centre-left and liberals.

© Reuters. Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem attends a euro zone finance ministers meeting in Brussels

The Eurogroup head position is likely to be seen as a package together with the replacement for the European Parliament speaker and the likely re-appointment in May of Donald Tusk, a centre-right former Polish prime minister, for a second term as the chairman of EU leaders.

(Reporting Tatiana Jancarikova, writing by Jan Strupczewski; Editing by Philip Blenkinsop and Gareth Jones)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.