Carlos Cuerpo Opts Out of Eurogroup Presidency Race

Spanish Economy Minister Carlos Cuerpo decided not to run for Eurogroup presidency. The vacancy follows Paschal Donohoe's resignation. Greek Finance Minister Kyriakos Pierrakakis is likely to announce his candidacy. Cuerpo was briefly a contender in June when Donohoe's term was concluding.

Spanish Economy Minister Carlos Cuerpo has decided against pursuing the position of Eurogroup president, according to a spokesperson's statement on Friday.

This decision comes after the resignation of Paschal Donohoe from his roles as Irish Finance Minister and Eurogroup president, as he prepares to assume a senior position at the World Bank.

In related developments, Bloomberg reports that Greek Finance Minister Kyriakos Pierrakakis is expected to announce his candidacy for the Eurogroup presidency.

(With inputs from agencies.)