Eurozone Has A New President

  • On Monday, the Euro group appointed Dutch Finance Minister Jeroen Dijsselbloem president. Mr. Dijsselbloem is likely to stay in office for two-and-a-half years, a term that is open to renewal. The appointment had the backing of 16 Eurozone finance ministers. Spain abstained. After initial reservations, French Finance Minister Pierre Moscovici ended up voting for Dijsselbloem. Dijsselbloem supports the continuation of economic reforms and austerity measures and resolution the debt crisis in the Eurozone he believes that solidarity is paramount. "Solidarity is at the top of my priority list and I’m convinced that working towards a sustainable budget, a balanced budget in different countries, doesn’t conflict with holding on to that solidarity,” he said.