His merits precede him. The Portuguese Minister of Economy, Mário Centeno, in open challenge to some of most orthodox recipes of his European colleagues, has achieved in two years to put public deficit in waist and almost doubling pace of growth in his country. His appointment at head of Eurogroup ( informal meeting of eurozone's 19 economic ministers) is, refore, a different bet for a different time in European Union and euro zone, for which OECD has just raised its growth forecast PA RA 2017 to 2.4%.Previous Editorials
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Mário Centeno, who will be first president of Eurogroup coming from a country of South and net receiver of European funds, augurs a new vision, away from pretentiousness in which it fell during its first mandate Dutchman Jeroen Dijsselbloem, although it will not enjoy In Brussels of both leeway and in Portugal.
The presidency of Rye, in any case, must be a transitional presidency. Tomorrow, European Commission will formally propose institution of a superminister of finance to unite in its figure economic management functions of eurozone and EU, a specific budget embryo for eurozone and transformation of European Stability Mechanism in a European Monetary Fund. Paris has been ultimate defender of this project, which Berlin could now join more enthusiastically in case of socialist Martin Schulz reissue with Angela Merkel Great coalition.
In transformation of Eurogroup, its new president will not have a crucial role, but it is relevant. Rye was candidate of France and Germany. Spain has given you strong support. He has proven his management capacity in Portugal. In Brussels, it will have to demonstrate its negotiating capacity.
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