Eurozone

Many states, one currency
A common currency for Europe – with the introduction of the euro more than 20 years ago, that vision became reality. More recently the monetary union was put to the test during the European sovereign debt crisis. And while the perspectives for the euro zone as a whole are better than they have been in a long time, major reforms are on the horizon. In addition, an expansion of the common currency to all EU member countries is being debated. As a result the new chairman of the Eurogroup, Mario Centeno, already has his work cut out for him.
(LtoR) Austria's Chancellor Sebastian Kurz, Netherlands' Prime Minister Mark Rutte, Sweden's Prime Minister Stefan Lofven, Denmark's Prime Minister Mette Frederiksen (up L), President of the European Council Charles Michel and President of the European Commission Ursula von der Leyen meet on the sidelines of a special European Council summit in Brussels on February 20, 2020, held to discuss the next long-term budget of the European Union (EU). (Photo by Virginia Mayo / POOL / AFP)
(LtoR) Austria's Chancellor Sebastian Ku […]

Sweden and Denmark step out of the shadows as EU’s frugals

Normally perceived as team players, Sweden and Denmark have found themselves playing the unaccustomed role of outliers in EU politics, blocking the widely backed COVID-19 recovery plan
(FILES) In this file photo taken on October 8, 2019 Irish Finance Minister Paschal Donohoe gestures during a photo call prior to presenting his Budget 2020 to parliament, at Government Buildings in Dublin. - Irish finance minister Paschal Donohoe was picked as the new president of the Eurogroup on July 9, 2020, which brings together the eurozone finance ministers who help guide European economic policy. (Photo by Paul FAITH / AFP)
(FILES) In this file photo taken on Octo […]

Ireland’s Donohoe takes leadership of Eurogroup amid historic recession

Irish finance minister Paschal Donohoe has been picked as the new president of the Eurogroup, a key role as Europe sits in the depths of its deepest recession since World War II
(FILES) (COMBO) This combination of file pictures made on June 10, 2020, shows (L-R) Luxembourg's Finance Minister Pierre Gramegna on December 4, 2017, in Brussels; Spain's Minister for Economic Affairs Nadia Calvino on June 8, 2018, in Madrid; and Ireland's Finance Minister Paschal Donohoe on October 8, 2019, in Dublin. - The new head of the Eurogroup will replace Mario Centeno, Portugal's soft-spoken finance minister who is stepping down after just two-and-a-half years. Luxembourg's Finance Minister Pierre Gramegna, Spain's Nadia Calvino, and Ireland's Paschal Donohoe, are among three names strongly rumoured to replace Centeno. (Photo by AFP)
(FILES) (COMBO) This combination of file […]

Eurozone picks new chief as pandemic recession looms

Who will be the next Eurogroup president? Eurozone finance ministers will meet to elect a new president, filling a key job just as the continent is facing the worst recession in EU history.
Netherlands' Prime Minister Mark Rutte arrives for a European Union Summit at the Europa building in Brussels on December 12, 2019. - European Union leaders meet without Britain on December 12, but their departing neighbour's absence will not make agreeing a budget any easier. Inside the chamber, the clash over climate take Brexit's place as the dominant theme of the summit, the first to be chaired by incoming EU Council president Charles Michel. (Photo by Kenzo TRIBOUILLARD / AFP)
Netherlands' Prime Minister Mark Rutte a […]

Dutch ‘preachers and salesmen’ lead EU frugality drive

The Netherlands will be at the centre of upcoming talks over European spending on the coronavirus crisis, driven by a mix of traditional Calvinist frugality and political reality, experts say
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