Portuguese Finance Minister Mario Centeno will be the next head of one of the euro area’s key political bodies, a change of guard that comes as the currency bloc seeks to enact ambitious reforms following the worst financial crisis in its history.
The decision to elect Centeno to lead the meetings of euro-area finance ministers came after two rounds of votes. Luxembourg’s Pierre Gramegna lost in the second round, while Slovakia’s Peter Kazimir and Latvia’s Dana Reizniece-Ozola dropped out after the first.