Bloomberg News

Eurogroup to Pave Way for Schaeuble to Become Head, FTD Reports

March 29, 2012

Euro-area finance ministers meeting in Copenhagen tomorrow will pave the way for German Finance Minister Wolfgang Schaeuble to become head of the group, Financial Times Deutschland reported, citing unidentified officials.

The position will be staffed as part of a wider rotation of jobs at the European level, the newspaper said. Germany is tying its backing for Luxembourg central bank governor Yves Mersch to join the European Central Bank’s executive board to Luxembourg Prime Minister Jean-Claude Juncker stepping down as head of the Eurogroup, according to FTD.

No formal decision will be taken to appoint Schaeuble, who is the only successor candidate for Juncker, FTD said.

To contact the reporter on this story: Jana Randow in Frankfurt at jrandow@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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