Portugal’s former (relatively brief) finance minister João Leão has today ‘pulled out’ of ‘the race’ for a new leader to Europe’s Stability Mechanism. The other contender, Luxembourg’s Pierre Gramegna has also “abandoned the process”, says a statement issued by the Ministry of Finance. According to Expresso, the reason is that neither candidate could muster the sufficient number of votes (80%) to be nominated ‘Director General of the ESM’. It’s now up to president of the Eurogroup Paschal Donohoe to decide what happens next.
Home Portugal News Brief news Former finance minister pulls out of ‘race’ to head-up European Stability Mechanism
