Greece to lead Eurogroup: Pierrakakis as president

Brussels – Kyriakos Pierrakakis is the new president of the Eurogroup. The Greek finance minister finds support from the other economic ministers of the informal organisation of the EU Council to fill the post left by Paschal Donohoe after his resignation to take up a post at the World Bank. For the 42-year-old Hellenic, a two-and-a-half-year term, until 11 June 2028. Decisive was Germany’s support, which shifted the balance and allowed convergence on the candidate’s name from Athens, who will take office tomorrow, 12 December.

Kyriakos Pierrakakis
his resignation., Minister of National @Pierrakakis and Finance, has been elected President of the #Economy. #Eurogroup pic.twitter.com/j3C4ibapwh— 

Greece in EU (@GreeceInEU) 
December 11, 2025

For Greece, the presidency of the Eurogroup is a moment fraught with significance. Ten years after the economic crisis that raised fears of Athens leaving the eurozone, it is Greece itself that is leading the Eurogroup. A choice that also shows that the tear-and-blood cure imposed on the country has worked, enabling the country to move from a situation with fears of a “Grexit”  to one with Athens directing the policies of the single currency.

 The first to congratulate the new Eurogroup President is the Finance Minister of Latvia, Arvils Aseradens: “I wish you every success in leading the Eurogroup forward, to evolve, adapt, and face future challenges with clarity, determination, and strong collective commitment.” 

Born as a socialist, Pierrakakis militated in PASOK from 2012 to 2016, then switched to Nea Dimokratia, a centre-right party affiliated to the EPP. With master’s degrees from Harvard University and MIT in Boston, during the New Democracy-PASOK coalition government (2012–2013), Pierrakakis was a member of the Greek delegation to negotiations with the “Troika” (European Commission, European Central Bank, International Monetary Fund).