The succession race has officially begun for the presidency of the top European body, the Eurogroup, with the candidacy of the Greek Finance Minister being officially confirmed by the EU’s Director-General for Economic Affairs, Thomas Wieser. Mr. Pierrakakis is among the favorites for the succession, as he comes from New Democracy, which is a strong member of the European People’s Party, which holds the majority among the Finance Ministers of the Eurogroup. Bloomberg agency reported earlier today about the announcement of his candidacy.
The Greek minister’s candidacy is supported by several of his counterparts, as European sources indicate he represents one of the best-performing countries in the eurozone – which has recorded one of the biggest “fiscal comebacks” of recent decades. Additionally, within just eight months in office, he has distinguished himself in Eurogroup and ECOFIN meetings as an accelerator in decision-making that will have a developmental impact on the Union, and as a voice of reason against proposals for imposing new burdens on the economy. It’s also significant that he “sets an example,” as commentators note, having the profile of a reformist politician who “built” his reputation through his achievements in the ministries he has served (Digital Policy and Education).
Kyriakos Pierrakakis: Information about his candidacy
Earlier, Bloomberg reported that Mr. Pierrakakis would officially announce his candidacy during the day, just hours before the 5 p.m. Friday deadline in Brussels. Belgian Deputy Prime Minister and Budget Minister Vincent Van Peteghem, who also belongs to the EPP, will reportedly also submit a candidacy, and by mid-December there is expected to be an open line of communication between Athens and Brussels, in case a solution is found and the Belgian politician withdraws his candidacy from the EPP side. The election of the Eurogroup president requires a simple majority, meaning 11 out of the total 20 Finance Ministers of eurozone member states.
It should be noted that the Eurogroup president will be elected, according to the relevant procedure, by secret ballot with a simple majority by the Finance Ministers of eurozone countries on December 11 and will officially assume the position on December 12.
