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Business

Juncker May Stay on as Head of Eurogroup

Luxemburg Prime Minister Jean-Claude Juncker would agree to remain as head of the so-called Eurogroup when his second and theoretically final term of office runs out at the end of the year, he said.

Jean-Claude Juncker

Juncker has served two terms but said he's up for a third

"If all 15 finance ministers unanimously want to prolong my mandate, I won't be able to say no," Juncker told the Luxemburger Wort newspaper on Wednesday, Sept. 2.

Juncker, who is also his country's finance minister, was elected to head the informal group of finance ministers from the countries which use the euro in 2004.

At that time, the group agreed that the chairman should be limited to a maximum of two two-year terms.

However, in the wake of the banking crisis which began in the summer of 2007, pressure is growing for the experienced Juncker to remain in his post for a third term.

Eurogroup finance ministers are set to discuss the issue at informal talks in the French resort of Nice on Sept. 12.

The Eurogroup currently consists of 15 countries, including France and Germany. Slovakia is set to join the group in January.

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