Medina guarantees Portugal’s commitment to a “broad commitment” on the future leader of the European Stability Mechanism
Finance Minister Fernando Medina guaranteed “Portugal’s commitment” to a “broad commitment” on the director of the Executive Stability Mechanism (MEE), a charge to which João Leão competes, after postponement of this Thursday’s vote.
“I want to emphasize here that Portugal has always been, in these processes, as in all processes, part of the solution. Portugal is part of the solution in the field of European construction, in the field of deepening the intervention of the MEE […] and, therefore, we will have our dialogue and we will have our commitment with all our partners so that we find the best solution for the future of the mechanism”, said Fernando Medina.
Speaking to Portuguese journalists at the entrance to the Eurogroup meeting in Luxembourg, the government stepping up that, after today, Portugal will come into contact with the various member states from today.
“Today’s meeting was important, there was no information that there would be no vote, [mas] the presidency [do Eurogrupo] understood that there were no conditions for a unanimous vote […] and that it would be important for us to be able to dialogue more, to talk more about the process”, he added.
Remembering that the mandatory of the current executive director of the MEE will only end in October, Fernando Medina pointed out that the The countries of the Eurogroup considered that “more time for dialogue of dialogue between many that is a solution of broad compromise, which is what, in fact, requires as rules”.
The finance ministers of the Euro postponed this Thursday for lack of consensus on the discussion on the appointment of the next executive director of the MEE, a charge to which ex-minister João Leão competes, informed European sources.
Gathered in Luxembourg for the annual meeting of the ESM Board of Governors, Eurozone finance ministers not a known among the European name the same agreements to the position of executive director, informed the same sources to the Lusa agency.
In addition to João Leão, are running for the position or former Luxembourg Minister of Finance Pierre Gramegna and the former cabinet member of the European Economic Commissioner Marco Buti, director who is one of these three names, will replace the German Klaus Regling, who is an executive at the MEE its creation in 2012 and ends its term on October 7th.
Such as succession will only have to happen to as of October 8, there will be a new discussion on the appointment until then, with no data yet, forwarded the same sources to Lusa.
The discussion was on the agenda of the annual meeting of the Board of Governors of the MEE, the maximum decision-making body of the body that is composed of government representatives from each of the 19 shareholders of the mechanism, the euro countries, with the Finance portfolio. Portugal is, Fernando, by the minister of tutelage Medina.
It is up to the Euro Finance Ministers take this decision, in a decision taken by a majority, that is, 80% of the votes cast, being that the voting rights are equal to the number of shares attributed to each member country of the MEE in the authorized share capital.
Portugal, for example, has a voting right of around 2.5%, which compares with Germany (26.9%) and France (20.2%), the latter with greater weight in the vote and with power of veto.
In the previous Government, João Leão assumed the Finance portfolio, after having been Secretary of State for the Budget, between 2015 and 2019.
with LUSA