The Ministry of Finance said on Tuesday that the nominations of former Portuguese and Luxembourg finance ministers João Leão and Pierre Gramegny for the post of director general of the European Stability Mechanism (ESM) have been withdrawn.
According to a statement from the finance ministers, the decision was made “by common consent in the interests of the Luxembourg institution” in order to avoid deadlock and not harm the succession of Klaus Regling, the current CEO of MEE.
“Following informal consultations that have taken place in recent months between eurozone finance ministers, it appears that although each of the candidates received a large number of votes, none of them managed to get a supermajority of 80% of the required votes. be appointed Director General of the IEE,” the note reads.
He also says Eurogroup President and MEE Governing Board Chairman Pascal Donoghue will report on the follow-up process in due course.
Author: morning Post
Source: CM Jornal
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