Paschal Donohoe's bid for president of the group of Euro finance ministers to be decided today

Donohoe hopes to be elected president of the Eurogroup today. Image: Sam Boal/Rollingnews.ie Donohoe hopes to be elected president of the Eurogroup today. Image: Sam Boal/Rollingnews.ie MINISTER FOR FINANCE Paschal Donohoe will find out today if he’ll be elected as the new president of the Eurogroup – the group of finance ministers from the 19 countries that use the Euro currency.

Donohoe would become the fourth president of the Eurogroup, after Luxembourg’s Jean-Claude Juncker, Netherlands’ Jeroen Dijsselbloem and Portugal’s Mário Centeno. Juncker, in particular, was prominent in the role during the financial crisis of the last decade onwards. “The Eurogroup President has a vital role in shaping the agenda and policy response to major economic issues, including the economic impact of the present Covid-19 pandemic,” it said.There may be two rounds if none of the three going for the job – the other being Luxembourg’s Pierre Gramegna – win after the first round of voting. Then, the one with the lowest number of votes will be eliminated before a straight one-on-one choice in the second round.

Donohoe has received the “full support” of the Europan People’s Party, the political family which brings together the European conservative parties, including Angela Merkel’s CDU in Germany.

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Minister for Finance says he 'cannot mandate' how banks consider mortgages for people on wage subsidy schemeMinister for Finance Paschal Donohoe has said he 'cannot mandate' how banks evaluate customers in receipt of the temporary wage subsidy scheme, amid reports that customers have had their mortgage approval pulled because they were on the scheme.
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