Pascal Donohoe, the president of the Eurogroup who defeated Carlos Corpus in the race for office, resigns

The Minister of Finance of Ireland and President-in-Office of the Eurogroup, Paschal Donohoehas abandoned his responsibilities, as well as his seat as a deputy, to assume a highly responsible position in the World Bankwhich has also implied his departure from the presidency of the Eurogroup, as reported by Irish public television (RTE).

Donohoe has taken stock of his time as president of the Eurogroup, where he landed in July 2020 after defeating the former first vice president and Spanish Minister of Economy. Nadia Calvino. Donohoe highlighted that in these years “they have faced many challenges, including the Covid pandemic, the effects of the inflationary wave and the unjustified war in Ukraine and the consequences for Europe of a rapid change in the international order.”

The current Irish finance minister has added that in recent years “we have strengthened the euro through our collaborationcooperation and willingness to work together.” Specifically, he highlighted the greater coordination of budgets, the extension of the euro to Croatia and Bulgaria, as well as “our work in the Capital Markets Unionthe digital euro and the Banking Union”. Now he hopes to be able to contribute to international cooperation from his new position at the World Bank.

RTE has reported that Donohoe has announced his resignation this Tuesday and will leave his seat as a deputy in a few days to become managing director and head of Knowledge at the World Bank, the second position in the international institution led by the Indian Ajay Banga.

Minister since 2013 and of the Eurogroup since 2020

Donohoe, 51, was until today the most senior minister in the Irish Governmentsince his ministerial career began in 2013 as Minister of State and in 2014 he was appointed Minister of Transport, Tourism and Sports, after which in 2016 he assumed the position of Minister of Public Expenditure and Reform, and in 2017 he was appointed Minister of Finance.

The Irish politician He became president of the Eurogroup in July 2020a position that she would also leave vacant if her resignation were confirmed, after then prevailing over the Spanish Nadia Calvino and being re-elected a few months ago at the head of this European institution for which the current Minister of Economy, Commerce and Business, Carlos Body, has also fought.