02/05/2022 (Agence Europe) – The president of the Eurogroup, Paschal Donohoe, unveiled, on Monday 2 May, the four candidates vying for the post of director general of the European Stability Mechanism (ESM), the euro area’s permanent rescue fund: - the Italian Marco Buti, Head of Cabinet of Commissioner for Economy, Paolo Gentiloni; - Luxembourg’s Pierre Gramegna, former Minister of Finance; - the Dutchman Menno Snel, former Secretary of State for Finance; - Portugal’s João Leão, former Minister of Finance. Discussions on these candidacies will take place at the Eurogroup meeting of 23 May. The future Managing Director will be appointed in mid-June by a qualified majority vote of the ESM Board of Governors (80% of votes cast). He is expected to take office in October, when Klaus Regling’s term of office expires. (MB)