00:00Greek finance minister Kyriakos Piriakakis was elected president of the Eurogroup on Thursday,
00:06rewarding the country's turnaround story 10 years after Athens almost crashed out of the Eurozone
00:13in a deep economic crisis. Piriakakis takes over the Eurozone functions on 12 December,
00:20coinciding with the exit of former boss Pascal Donohoe, who was re-elected this year,
00:24but abruptly exited a position to take the top job at the World Bank in Washington.
00:30The Greek politician will be in office for the next two and a half years and will also be
00:35the chairman of the European Stability Mechanism, the EU's bailout fund. The Eurogroup, the informal
00:41body of finance ministers from 20 European Union members, handles key economic files including
00:48the EU's capital markets and the investment union. Coming under assault from China's growing
00:54global market share and U.S. tariffs, the group's role has become even more crucial. Piriakakis has
01:01said it will work to keep the Eurogroup focused on its common currency and common interests grounded
01:08in the core values of the union.
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