His then German counterpart Wolfgang Schäuble, a champion of financial orthodoxy, had nicknamed him "the Ronaldo" of European finance ministers. Two and a half years after his accession to the head of the Eurogroup, the inner circle of the big money dealers of the euro zone, the Portuguese Mario Centeno however draws his bow on a pale balance sheet. When choosing a successor, the institution will have to take the initiative, at the risk of being marginalized.
Read also: Mario Centeno, new president of the Eurogroup, “Ronaldo de l'Écofin”
These informal meetings have failed in recent years to establish themselves as the central location of European economic policy, due to the lack of major reforms. During the euro crisis, this little "club" decided the fate of the Greek, Portuguese or Irish peoples by imposing drastic austerity cures in exchange for rescue funds.
The EU response to the Covid crisis has overshadowed the Eurogroup. After a stormy meeting in March where the finance ministers, including the Dutch Wopke Hoekstra who
This article is for subscribers only. You still have 72% to discover.
Subscribe: € 1 for 2 months
Cancelable at any time
Enter your emailAlready subscribed? Log in