Merkel says Germany will back Spanish minister to head Eurogroup

Merkel says Germany will back Spanish minister to head Eurogroup

PanARMENIAN.Net - German Chancellor Angela Merkel says her country will back Spanish Economy Minister Luis de Guindos's candidacy to be the next head of the Eurogroup, the gathering of eurozone finance ministers that sets important policies for the currency union.

According to the Associated Press, Merkel said Monday, Aug 25, that when the term of the current Eurogroup leader, Dutch Finance Minister Jeroen Dijsselbloem, ends in January, Germany will support de Guindos to replace him.

She said de Guindos "has been an excellent economy minister in difficult times" and had worked closely with Germany's Wolfgang Schaeuble on many issues during the eurozone's financial crisis.

Merkel was speaking during a press conference with Spanish Prime Minister Mariano Rajoy in the northwestern Spanish city of Santiago de Compostela at the end of a two-day visit.

 Top stories
The sides will sign the agreement on the construction of the power unit, once the preparatory work is over, the Energy Minister said.
4.2% increase in the economic activity index was mainly conditioned by this year’s positive dynamics in agriculture, an official said.
Head of Rosatom Sergey Kiriyenko and Armenia's Minister of Energy and Natural Resources Yervand Zakharyan signed the deal.
Around 10.6% will be spent on economy, 7.2% will be used to repay Armenia's debts, 3.5% will go the communities as budget subsidies.
Partner news