Moscovici Calls for Formal Process for Euro Group Head

(Corrects billion to million in final paragraph.)

French Finance Minister Pierre Moscovici said the euro group should set out a “formal” and “transparent” procedure for selecting its chairman.

“I have no reservations about any particular candidate,” Moscovici told journalists in Paris, adding that the group of finance ministers should be able to speak to candidates about their vision of the job.

Moscovici said that the role isn’t ideally suited for the French finance minister.

Moscovici also said that France’s 2013 budget set aside about 600 million euros for special operations and that funds for the nation’s intervention in Mali would come from that for now. More funds will be found if needed, he added.

To contact the reporter on this story: Mark Deen in Paris at markdeen@bloomberg.net

To contact the editor responsible for this story: Mark Deen at markdeen@bloomberg.net

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