Belgian budget minister Vincent Van Peteghem candidate for Eurogroup presidency

Federal budget minister Vincent Van Peteghem is a candidate to become president of the Eurogroup, the informal consultative body of finance and/or budget ministers from countries that use the euro as their currency. The president combines the role with his national ministerial position.

The deadline for nominations was 5 pm today. It comes as no surprise that Van Peteghem is one of the candidates for the Eurogroup presidency. He had already been mentioned as a possible successor to Ireland's Paschal Donohoe, who recently resigned as minister to take up a senior position at the World Bank.

Although the Eurogroup has no formal status, the meeting of finance and/or budget ministers is important for European financial and monetary policy. The body for example played a central role during the Greek debt crisis and the COVID-19 crisis. The ministers meet monthly.

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Van Peteghem's experience works in his favour: he is one of the longest-serving ministers in the Eurogroup. He is also a member of the EPP (European People's Party), the largest European political group, which provided the previous president and would like to retain the position.

However, the difficult budgetary situation in Belgium and the ongoing discussion about the Euroclear billions could work against him.

"I am used to reconciling divergent positions and reaching balanced, workable agreements"

“As Belgian deputy prime minister and minister of budget in a multi-party coalition, I am used to reconciling divergent positions and reaching balanced, workable agreements. I want to bring that same commitment to inclusiveness and transparency to the Eurogroup,” Van Peteghem wrote in a letter to his European colleagues.

A complete list of candidates is not yet available, but Greek finance minister Kyriakos Pierrakakis – a member of the EPP as well – is also expected to run for the presidency. Greece is currently on track to achieve a balanced budget.

^{#FlandersNewsService | Belgian budget minister Vincent Van Peteghem at the European Council © PHOTO HANS LUCAS COLLECTION}

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