Ireland’s finance minister Paschal Donohoe is stepping down to take up a senior position at the World Bank, creating an early vacancy at the helm of the Eurogroup, of which he has been president since 2020.
Donohoe was re-elected for a third term as Eurogroup president in July, a role that was very high-profile during the Eurozone sovereign debt crisis, handling the EU’s response, but has since involved co-ordinating fiscal policy in the single currency bloc.
Donohoe’s premature departure will kick off a race among Eurozone capitals to replace him. His third term as Eurogroup president had been due to end in 2027.
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