Euro zone finance ministers to vote on their brand new chief — here’s all you need to know

The 19 finance ministers of the euro zone are due to vote on their brand new chief at a meeting Monday — a key moment to understand what direction the monetary union might take from the near future.

The vote is usually important, not only because the brand new president of the Eurogroup will be faced with key decisions, such as debt restructuring for Greece, nevertheless also because the item will clear the path to understand who might head the European Central Bank after Mario Draghi.

At the moment, Portugal’s Finance Minister Mario Centeno is usually seen as the most likely person to replace Jeroen Dijsselbloem as head of the Eurogroup.

Dijsselbloem is usually leaving the post in January after losing his position as finance minister from the Netherlands following elections earlier This specific year. The brand new head of the Eurogroup needs to be a sitting finance minister coming from the euro area along with needs to strike a balance between nationalities along with political affiliations.

Centeno seems to fit such criteria. He is usually coming from the Socialist Party in Portugal, along with because currently the majority of the big European positions are from the hands of the center-right, his political membership becomes a plus; the Portuguese economy has been growing at a strong pace since he began leading the Finance Ministry in 2015; along with he is usually perceived as a Great professional among his European colleagues.

According to the Financial Times, the leaders of Italy, Portugal, France along with Germany met at the sidelines of an EU Summit from the Ivory Coast Wednesday along with the consensus was Centeno was best placed to take on the leadership of the Eurogroup.

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