Spain's Economy Minister applies for Eurogroup Presidency

Spanish Economy Minister Carlos Cuerpo has officially announced his candidacy for the presidency of the Eurogroup, consisting of the 20 finance ministers of the eurozone.

"I am running to give new impetus to this forum, which must be at the heart of Europe's political agenda," Cuerpo declared at X. He promised deeper integration and progress in the areas of growth, competitiveness and social welfare.

The informally structured Eurogroup steers the economic direction of the EU by coordinating fiscal policy, monitoring the euro area and responding to financial crises.

The election of the new President is scheduled for the next Eurogroup meeting on 7 and 8 July in Brussels.

To secure the post, a candidate must secure the support of a majority of the Eurozone's 20 finance ministers. The position, currently held by Paschal Donohoe of Ireland, has a term of two and a half years and exerts considerable influence on EU economic policy debates.

Cuerpo, a career economist with a doctorate who has previous experience at the Commission and the Spanish financial regulator AIReF, was appointed the country's Minister of Economy in December 2023.

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