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Merkel in Spain Backs De Guindos as Eurogroup Head Candidate

German Chancellor Angela Merkel backed Spain’s Luis de Guindos as the next head of the group of euro-area finance ministers, saying he has done an “excellent” job during Europe’s debt crisis.

“As far as the question of the future Eurogroup head is concerned, once the current leader’s term expires, we support the candidacy of Mr. de Guindos,” Merkel said at a joint news conference with Spanish Prime Minister Mariano Rajoy after talks in Santiago de Compostela today.