Today, the Eurogroup elected Portuguese Finance Minister Mario Centeno as its new President. Sven Giegold, financial and economic policy spokesperson of the Greens/EFA Group in the European Parliament, comments:
"We congratulate Mario Centeno and wish him every success in this important position. Having a finance minister from the South as head of the Eurogroup will improve the balance of power within Europe. Centeno is the anti-Schäuble among Europe's finance ministers. Portugal has successfully refuted the austerity dogma. Centeno has shown that, after the necessary structural reforms, investing is the right way forward. The country is recovering not in spite of the fact that it is raising pensions and incomes, but because of it. We are pleased that not another candidate from a tax haven was selected.
"While Centeno is a good choice, after thirteen years it is long overdue to have a woman to head the Eurogroup. In Dana Reizniece-Ozola, there was a more than suitable candidate. Male dominance in the Eurogroup has continued for too long. We would like to see rules to ensure the presidency is alternated between men and women. Power in the important financial institutions of the EU has to be shared equally between men and women."