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4 countries fighting for the top job of the bailout fund – POLITICO

Italy, Luxembourg, the Netherlands and Portugal applied by the deadline on Monday for the post of chief executive of the European Stability Mechanism, the EU’s bailout fund.

The candidacies are following what POLITICO reported last week. Whoever wins, it would be the first time a new candidate has been named for the role. Current ESM boss Klaus Regling will step down in October after two five-year terms.

Rome’s nominee is Marco Buti, head of cabinet for Economy Commissioner Paolo Gentiloni and former head of the Commission’s economic policy arm. The Netherlands installed Menno Snel, a former Dutch deputy finance minister who resigned in 2019 over a child benefit abuse scandal. Portugal went with its former finance minister, João Leão, as did Luxembourg with Pierre Gramegna.

Countries have until May 23 to build support for their candidates ahead of a meeting of euro zone finance ministers that day, if a decision is on the agenda. The aim is to reach a consensus on a candidate and to confirm the decision at a further meeting in June.

https://www.politico.eu/article/for-countries-to-battle-it-out-for-bailout-fund-top-job/?utm_source=RSS_Feed&utm_medium=RSS&utm_campaign=RSS_Syndication 4 countries fighting for the top job of the bailout fund - POLITICO

Fry Electronics Team

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