Luxembourg’s Pierre Gramenia and Portugal’s Joao Leao withdrew their candidacies – Klaus Regling’s term expires in October.
The Eurogroup President is on the hunt for new candidates for the post of Managing Director of the European Stability Mechanism as the only two candidates – Luxembourg’s Pierre Gramenia and Portugal’s João Leão – withdrew their candidacies.
It is noted that the term of outgoing head of the ESM Klaus Regling expires in October.
As Eurogroup President Pascal Donahue announced today via Twitter, “My colleagues from Luxembourg and Portugal have informed me of their decision to withdraw their respective candidates for the post of ESM CEO. Pierre Gramenia and Hoao Leao were both excellent candidates and I thank them for their participation in this process. I will continue my efforts and consultations to present a candidate for the role of ESM CEO.”
The ESM Governing Council (eurozone finance ministers) failed to choose the new ESM CEO in two previous meetings. Germany was reportedly blocking the appointment of Portugal’s former finance minister, while France and Italy were blocking the appointment of Luxembourg’s former minister.
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