Paschal Donohoe announced his immediate resignation on Tuesday from his position as Eurogroup President. He will take up the role of Managing Director and Chief Knowledge Officer at the World Bank in Washington.
Under Eurogroup rules, and with Cyprus preparing for the EU Council Presidency, Finance Minister Makis Keravnos will assume the acting presidency.
In his farewell statement, Donohoe called the presidency “one of my greatest honors,” noting challenges such as the Covid pandemic, inflation triggered by Russia’s war in Ukraine, and global economic shifts. He highlighted achievements including strengthening the euro, coordinating fiscal policies, welcoming Croatia and Bulgaria, and advancing projects like the Digital Euro, Banking Union, and Capital Markets Union.
Donohoe stressed the importance of international cooperation, saying his new role will allow him to continue this work at a global level. His resignation also applies to his position as Ireland’s Finance Minister.
Souirce: CNA