Ireland's finance minister Paschal Donohoe has been elected as the new president of the eurozone's finance group. Donohoe succeeds former president Mário Centeno from Portugal who said in June he would not run for another term as Eurogroup president.
The Spanish government started lobbying on Wednesday for Economy Minister Nadia Calvino to take the presidency of the Euro-group, with a minister saying it would be good news if she were to replace Mario Centeno, who is stepping down.
European Union finance ministers have agreed on a massive emergency package designed to ensure that member-states hit hard by the coronavirus pandemic will have the necessary resources to rebuild their economies.