Greece’s Pierrakakis Elected Eurogroup President in Brussels

Overview

• The 20 eurozone finance ministers chose the Greek finance minister in a Brussels ballot over Belgium’s Vincent Van Peteghem.
• He succeeds Paschal Donohoe, who resigned in November to take a senior post at the World Bank.
• The Eurogroup coordinates economic policy for euro-area countries and elects its chair by simple majority every two and a half years.
• Pierrakakis, 42, has served as finance minister since March after leading Greece’s digital and education portfolios.
• Germany’s Lars Klingbeil, European Council President António Costa and Greek Prime Minister Kyriakos Mitsotakis welcomed the result, noting Greece’s recent fiscal surplus and stronger growth.