Portugal’s FinMin Mario Centeno the new Eurogroup President

The Finance Ministers of the 19 Member-States of the Eurozone were called upon to decide who will be the next Eurogroup President, as Mr. Jeroen Dijsselbloem‘s tenure came to an end.

Four candidates were in the race: Portugal’s Mario Centeno, Luxembourg’s Pierre Gramegna, Slovakia’s Peter Kazimir and Latvia’s Dana Reizniece-Ozola.

Late Monday afternoon, various European Union officials announced through their Twitter account that Mr. Centeno was selected for the position.

Taking into consideration that Portugal was among the countries that required a bailout during the financial crisis that nearly crippled the EU, Centeno’s presidency will open a new chapter for the Eurozone, especially in light of Greece’s exit from the bailout era in summer 2018.

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