Luxembourg Endorses Eurogroup President’s Re-Election

On Tuesday 8 July 2025, Luxembourg’s Ministry of Finance reported that Minister of Finance, Gilles Roth, travelled to Brussels for the Eurogroup and Economic and Financial Affairs Council (ECOFIN) meetings, which were took place from Monday 7 to Tuesday 8 July 2025.

According to the ministry, the finance ministers of the euro area discussed budgetary policy coordination, exchanged views on the international role of the euro and deliberated on the European Commission’s proposal concerning Bulgaria’s accession to the euro area, which is set to become its 21st member in 2026.

The Eurogroup also re-elected Paschal Donohoe as its President for a new two-and-a-half-year term.

Minister Roth commented: “Paschal Donohoe’s re-election by consensus reflects the euro area ministers’ confidence in his pragmatic leadership and his ability to ensure economic stability.”

In addition, the ECOFIN Council held an exchange of views on the package relating to the single currency, including the digital euro, as well as the Union of Savings and Investments. Finance ministers also discussed the 2025 European Semester recommendations and the implementation of the new economic governance framework, adopted the legislative acts enabling Bulgaria to join the euro area at the beginning of 2026 and prepared the mandate for EU finance ministers and central bank governors ahead of the upcoming G20 meeting scheduled for mid-July.

Moreover, Denmark assumed the Presidency of the Council of the European Union on Tuesday 1 July 2025 and presented its work programme and priorities to ECOFIN members.