“Ireland’s economy has had many successes, but it has also faced many challenges. I want to use this, but also my experience, to make sure that the Eurogroup will play an important role in building a complete recovery”, Donohoe said in the Eurogroup.

Voting started at 18.00 Brussels time. However, in the first voting round for the election of the new president of the Eurogroup none of the three candidates managed to get the required ten votes.

In the second round, Luxembourg’s finance minister, Pierre Gramenga, withdrew leaving Spain’s Nadia Calvinio and Pascal Donohoe to claim the presidency.