Euro rescue fund: Luxembourg’s Gramegna back in the race

Former Luxembourg Finance Minister Pierre Gramegna is back in the race for the post of Managing Director of the European Stability Mechanism (ESM). According to information from Europe.Table after France, Italy has also given up its opposition to the Luxembourger. The reasoning was that the uncertain international situation requires a level-headed and experienced financial politician as Managing Director of the ESM, who is also very familiar with the workings of the European institutions.