Lemer will be the next president of Euorgroup - 91 Vital

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Monday 6 November 2017

Lemer will be the next president of Euorgroup

The French Finance Minister Bruno Lemer will hold a series of meetings in Berlin this week to discuss the future of the eurozone, but also to evaluate their own chances of becoming the next president of the Eurogroup, the Council of Finance Ministers of the Member members of the eurozone.

Both French and German officials confirmed that Lemer will be in Berlin on Wednesday to meet with Peter Altmaier , a politician considered that is very close to Chancellor Angela Merkel and Finance Minister carries debts.

The Lemer also expected to see Christian Lintner , the leader of the Free Democrats (FDP), and Cem Özdemir , co-chairman of the Greens. The two negotiate with Merkel's conservatives for the formation of a coalition.

The president of France Emmanuelle away has made eurozone reform one of the main objectives of the five-year presidency. But any change requires the support of Merkel and the new government , which is not expected to be formed before Christmas. The Lintner also categorically rejected the idea of macro to create a common budget in the eurozone.

"We want to have a discussion on the occasion of the president's speech at the Sorbonne and to exchange views on the future of the eurozone," said an official of the French Finance Ministry, referring to the presentation of the vision away for reforming the European Union in September.

While visiting Lemer-the first to do in Berlin after the German election-aimed at obtaining or strengthening contacts with people who are expected to assume key positions in the next government of Germany, also provides an opportunity to explore what German moods in chairing the Eurogroup , which will be held next month.

Since established in 2005 the Eurogroup, which brings together the finance ministers of the 19 EMU countries had only two presidents: the Luxembourger current Commission President Jean-Claude Juncker (2005-2013) and the former Dutch Finance Minister Geroun Ntaiselmploum, whose term expires in January.

The chairman is not simply conducts monthly councils, but sets out the policy on economic and monetary union and ensure that all countries shall fulfill the targets for public deficits and public debts.

The problems with the nomination Lemer

The 48 year old Lemer considered astute, ambitious and able to lead the Eurogroup. But some expressed reservations about the possibility of the president to come into the hands of Germany or France , the two largest economies of the EMU, which anyway have a dominant role in shaping EU policy.

Another problem regarding the candidacy of Lemer is that France is not exactly immaculate track record as regards compliance with the targets that were set in the last decade. German officials do not exclude necessarily the candidacy of Lemer, but have indicated that they would prefer to take the finance minister of one of the smaller countries. Last week a German officer referred to two possible alternatives: the candidacy of Pierre Gkramenia (Luxembourg) and that of Peter Kazimir (Slovakia). Also pitched the idea to renew the mandate of Ntaiselmploum , considered loyal ally in Berlin, although not a member of the new Dutch government.

"It is still very unclear who will come out ahead," the German official said he asked for the presidency of the Eurogroup. "At this stage, there seems to exist a candidate they want everyone. There is a natural candidate, "he insisted.

The next president of the Eurogroup will be selected on November 4, said the EU official said last week, the official call for applications is expected to be in mid-November.

"There has judged anything," he said a German officer asked about the candidacy of Lemer, but estimated that the French finance minister "will be a candidate only if gained the impression that he is the Chosen One."

The contacts will be Wednesday in Berlin the Lemer could prove decisive for whether he will run.

If Lemer actually become president of the Eurogroup, this may affect who will assume other critical European niches . The mandate of Mario Draghi as President of the European Central Bank ends on October 31, 2019, and the name of the head of the German central bank, Jens Weidmann's already heard when potential successors discussed it.

When political analysts, if France take the chair of the Eurogroup, will be more difficult for Paris to argue against the assumption of the ECB presidency by a German .

But as he had put a French official told Reuters news agency on condition not to be named last month, if Vaintman take the helm of the ECB, this "will be a problem for many countries, not only for France ' .

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