FT: Merkel Proposes Schaeuble as Eurogroup Head

That’s the new that made Greeks faint on Friday morning: That German Chancellor Angela Merkel proposes Finance Minister Wolfgang Schaeuble as the next Eurogroup head. Quoting unnamed sources in Brussels,  the German edition of Financial Times writes in its exclusive story:

Merkel Wants Schaeuble as Euro-Group Chief

The game still goes on – The poker about all four top places to be filled again in Brussels is too complicated. There is resistance against the German Finance Minister from France.

According to FT-Deutschland information, Chancellor Angela Merkel has suggested her Finance Minister Wolfgang Schäuble, as head of the Euro Group. The Chancellor has promoted Schaeuble to other government heads as the successor of  Luxembourg’s  Prime Minister Jean-Claude Juncker, chairman of the Euro-Finance Ministers group it si been said in Brussels and other European capitals.
The Euro Group seat is part of a package of four top posts for which there is a fierce tug of war taking place behind the scenes. The decision could be delayed till after the French presidential elections in May. “The game is still going on,” said a senior EU financial official. To a relevant question, the German government said , it does not give opinion to personal speculations.

With Schäuble’s election by the other finance ministers Germany would strengthen its power in the euro zone, at least outwards. The 69-year-old has enormous influence among his colleagues and is the first choice when it comes that the Eurogroup will not be headed by a head of a government. “He has the best cards right now,” it has been said in certain circles. The two leaders with finance experience  Jyrki Katainen from Finland and Mario Monti from Italy, have already rejected . (Further Reading Financial Times  and Reuters)

The term of Juncker ends in June.

PS Would the next FinMin vote for Schaeuble?