Eurogroup Showdown: Pierrakakis Wins Southern Support, Belgian Candidate Carries… Dead Weight

Unless a last-minute geopolitical twist emerges, this week belongs to the battle for the Eurogroup presidency. Greek Minister Kyriakos Pierrakakis goes head-to-head with Belgian Vincent Van Peteghem in a contest that insiders say is a tight 50-50 race—though in betting terms, it would have been a sensation. Behind closed doors, the tension is palpable.

Behind the Scenes

The Belgian candidate enters the race not entirely unscathed:

• His reputation is shadowed by Russian-linked assets, officially framed as “technical issues,” yet raising eyebrows in several European capitals.
• His relations with the Netherlands are, politely put, lukewarm—“I’ll call you… but don’t hold your breath”—and in Europe, such subtleties do not go unnoticed.

Meanwhile, the Greek minister appears to enjoy strong informal support from Southern Europe. Italy, Spain, Portugal, and other Mediterranean countries see this contest as an opportunity to signal to the North that the balance of power is no longer one-sided.

The Process and Power Balance

The presidency is determined by simple majority (11 out of 20 votes). While it may sound straightforward, European insiders know the real game involves:

• Phone calls, notes, glances, and insinuations—sometimes weightier than a Swiss restaurant bill.
• If no winner emerges in the first round, a dance of withdrawals and second thoughts begins, often deciding the actual outcome.

What to Expect

The duel between Pierrakakis and Van Peteghem is a true showdown, with all options open until the last minute.

One thing is certain: the backstage drama brewing behind closed doors is far more intense than the public imagines, with alliances, rivalries, and “little secrets” shaping the final verdict.

Source: pagenews.gr