The 19 Eurogroup finance ministers failed to agree on who should become the new head of the stability mechanism during recent meetings in Prague, according to international media outlets.
Joao Leão, the former Portuguese finance minister, is also in the running for the top job, competing with Luxembourg’s former DP minister Gramegna.
It is currently not clear on whether a decision will be reached on Friday. If the ministers fail to agree, then further meetings are scheduled to take place on 3 October in Luxembourg regarding the change of personnel.
The statutes stipulate that a candidate must receive 80% of the votes.
The current ESM boss Klaus Regling’s mandate expires on 7 October.
