Eurogroup facts for kids
The Eurogroup is a special group of people who meet to talk about the euro. The euro is the official money for many countries in the European Union (EU). These countries are called the eurozone.
This group is made up of the finance ministers from each of the 20 eurozone countries. A finance minister is like the chief money manager for their country. They work together to make important decisions about the euro and how the eurozone economy works.
The current leader of the Eurogroup is Paschal Donohoe. He is the Minister for Finance from Ireland. The Eurogroup meetings are usually private. They happen just before a bigger meeting of all EU finance ministers. This group helps make sure the euro stays strong and stable.
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How the Eurogroup Started
The Eurogroup started a long time ago. It was first called "Euro-X" or "Euro-XI." These names changed as more countries started using the euro. France asked for this group to be created. They wanted a place for countries using the euro to talk and work together.
The first meeting was in Luxembourg on June 4, 1998. At first, the leader of the Eurogroup changed often. It was usually the finance minister from the country that was leading the whole European Union at that time.
But in 2004, the ministers decided to choose their own leader. This leader would stay for a longer time. In 2008, something new happened. The leaders of the countries (like presidents or prime ministers) met instead of just the finance ministers. This special meeting was called the Euro summit. It happened more often during the big money problems around 2008.
Over time, the Eurogroup became more important. It helps guide how the euro economy works. Because they meet before other big finance meetings, they can often agree on things first. In 2009, a special agreement called the Treaty of Lisbon officially recognized the Eurogroup and its leader.
How the Eurogroup Works
The President of the Eurogroup
The Eurogroup has a leader called the President. This person helps guide the discussions and represents the group. The current President is Paschal Donohoe from Ireland.
In 2004, the Eurogroup decided to have a President who would serve for two and a half years. The first President was Jean-Claude Juncker from Luxembourg. He started in 2005 and served for many years. Having a President made the Eurogroup stronger. The President now regularly talks to the European Parliament.
After Juncker, Jeroen Dijsselbloem from the Netherlands became President in 2013. He was re-elected in 2015. Then, Mário Centeno from Portugal took over in 2018.
Paschal Donohoe was chosen as the fourth President on July 9, 2020. He started his job on July 13, 2020. He was re-elected on December 5, 2022, for another term that began on January 13, 2023.
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Jean-Claude Juncker
(2005–2013)
Luxembourg -
Jeroen Dijsselbloem
(2013–2018)
Netherlands -
Mário Centeno
(2018–2020)
Portugal -
Paschal Donohoe
(2020–present)
Ireland
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Who Are the Members?
The main members of the Eurogroup are the finance ministers from the 20 countries that use the euro. But other important people also join the meetings. These include the head of the European Central Bank (ECB). The ECB is like the central bank for all euro countries.
Also, the person in charge of economic and money matters for the European Commission attends. The European Commission is like the EU's government. The head of the Eurogroup Working Group also joins. This group helps prepare for the meetings.
Countries in the EU that do not use the euro cannot be observers. Sometimes, people from the International Monetary Fund (IMF) are allowed to be there. It is not always clear if these observers can speak during the meetings.
| Member | Representing | Political party | Member since | ||
|---|---|---|---|---|---|
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Paschal Donohoe |  President; Ireland |
European People's Party National: Fine Gael |
14 June 2017 | |
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Markus Marterbauer |  Austria |
Party of European Socialists National: Social Democratic Party |
3 March 2025 | |
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Jan Jambon |  Belgium |
European Free Alliance National: New Flemish Alliance |
3 February 2025 | |
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Marko Primorac |  Croatia |
Independent | 15 July 2022 | |
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Makis Keravnos |  Cyprus |
Progressive Alliance of Socialists and Democrats National: Democratic Party |
1 March 2023 | |
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Jürgen Ligi |  Estonia |
Alliance of Liberals and Democrats for Europe Party National: Estonian Reform Party |
23 July 2024 | |
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Riikka Purra |  Finland |
European Conservatives and Reformists Party National: Finns Party |
20 June 2023 | |
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Éric Lombard |  France |
Independent | 23 December 2024 | |
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Lars Klingbeil |  Germany |
Party of European Socialists National: Social Democratic Party |
6 May 2025 | |
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Kyriakos Pierrakakis |  Greece |
European People's Party National: New Democracy |
15 March 2025 | |
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Giancarlo Giorgetti |  Italy |
Patriots National: League |
22 October 2022 | |
 |
Arvils Ašeradens |  Latvia |
European People's Party National: Unity |
14 December 2022 | |
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Rimantas Šadžius |  Lithuania |
Party of European Socialists National: Social Democratic Party |
12 December 2024 | |
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Gilles Roth | Luxembourg |
European People's Party National: Christian Social People's Party |
17 November 2023 | |
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Clyde Caruana |  Malta |
Party of European Socialists National: Labour Party |
22 November 2020 | |
 |
Eelco Heinen | Netherlands |
Alliance of Liberals and Democrats for Europe Party National: People's Party for Freedom and Democracy |
2 July 2024 | |
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Joaquim Miranda Sarmento | Portugal |
European People's Party National: Social Democratic Party |
2 April 2024 | |
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Ladislav Kamenický |  Slovakia |
Independent (Party of European Socialists suspended) National: Direction – Social Democracy |
25 October 2023 | |
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Klemen Boštjančič |  Slovenia |
Renew Europe National: Freedom Movement |
1 June 2022 | |
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Carlos Cuerpo |  Spain |
Independent | 29 December 2023 | |
- Observers
- President of the European Central Bank: Christine Lagarde (since 1 November 2019)
- European Commission: Valdis Dombrovskis (since 1 December 2019)
- Managing Director of the European Stability Mechanism: Pierre Gramegna (since 1 December 2022)
Official Rules for the Eurogroup
For a long time, the Eurogroup did not have official rules written down. But this changed in 2009. A special agreement called the Treaty of Lisbon gave the Eurogroup a legal basis. This means it became an official part of how the EU works.
Protocol 14 of the treaty has two main rules for the Eurogroup:
- Rule 1: The finance ministers from euro countries can meet informally. They meet to talk about their shared duties for the euro. The European Commission and the European Central Bank also join these meetings.
- Rule 2: The ministers choose a President for two and a half years. They vote, and the person with the most votes wins.
The treaty also changed how voting works in other EU meetings. If a decision only affects countries using the euro, then only those countries get to vote. This makes sure that countries not using the euro do not vote on euro-specific issues.
Ideas for the Eurogroup's Future
Sometimes, people have ideas about how the Eurogroup could change and become even stronger.
A Stronger Economic Leadership
During a big money crisis in 2008, some leaders thought the Eurogroup needed to be more powerful. French President Nicolas Sarkozy suggested creating a "clear economic government" for the eurozone. He believed that the leaders of the countries should meet regularly. This would be like a special "Euro summit" for presidents and prime ministers. He felt they had the most direct support from the people.
However, not everyone agreed with this idea. Some thought it might make the Eurogroup too powerful. Others worried it could create a divide between countries that use the euro and those that do not.
A Eurozone Finance Minister
More recently, some important people, like Angela Merkel, suggested having one special finance minister for the entire eurozone. This person would lead the Eurogroup. They would also be in charge of economic and money matters for the European Commission.
The idea was that this minister would speak for all euro countries. They would protect the money interests of the whole eurozone. This would make European politics more efficient and fair. However, this idea was not approved by the Eurogroup in 2017. Some thought it would be better to just have a permanent President for the Eurogroup.
Speaking for the Eurozone on the World Stage
Another idea is for the eurozone to speak with one voice in big international groups. For example, at the International Monetary Fund (IMF). The IMF helps countries with money problems. Instead of each euro country speaking separately, they could speak as one big group.
In 2008, Jean-Claude Juncker said it looked "ridiculous" for euro countries not to have a single voice at the IMF. This would make the eurozone stronger when dealing with global money issues. There was also a suggestion for the Eurogroup to become a member of the G20. The G20 is a group of the world's biggest economies.
See also
In Spanish: Eurogrupo para niños
