Dutch Finance Minister Jeroen Dijsselbloem, whose Labour Party suffered a historic defeat in yesterday's elections, today insisted that his term at the helm of the Eurogroup lasts until January 2018.
"We need to form a new coalition but my mandate as head of the Eurogroup valid until January 2018," confirmed Ntaiselmploum through Michelle Rainey Representative.
The Ntaiselmploum is head of the Eurogroup from January 2013. The term of office of two and a half years was renewed in July 2015 and lasts until January 2018.
There is currently no specific rule for this case: if the Ntaiselmploum should resign from the post of finance minister after the defeat of Labour in the elections, nothing theoretically not prevent him to remain president of the Eurogroup.
In Protocol 14 of the Lisbon Treaty (2009) simply states: "Ministers of member states of the eurozone must elect a president for two and a half years by a majority of member states."
However, the tradition so far has been the election of a finance minister as head of the Eurogroup, initially by Jean-Claude Juncker (2009-2013) who was prime minister and finance minister of Luxembourg and then the Ntaiselmploum.
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