How EU Finance Chiefs Squandered Their Influence With Bickering

(Bloomberg) — Jeroen Dijsselbloem had been running the euro-area finance meetings for less than three months in 2013 when he stepped, bleary-eyed onto the stage at 4 a.m. to tell Cypriot savers they would have to help shoulder the cost of saving their country’s banking system.

With the single currency close to implosion at several points during the Dutchman’s tenure, traders around the world would soon get used to tuning in as he helped to thrash out a series of critical rescue packages in the meetings of Eurozone finance ministers, known as the Eurogroup.

Today the fallout from the coronavirus is raising familiar concerns about the resilience of public finances in the European Union. But the cohort of ministers who followed Dijsselbloem in the Eurogroup have largely gone missing. The election of a new president to fill his former role on Thursday offers the club a chance to revive its

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