Spain's economy minister launches bid to lead Eurogroup

MADRID (Reuters) -Spanish Economy Minister Carlos Cuerpo has launched his candidacy to preside over the Eurogroup, an informal body of euro zone finance and economy ministers, a ministry spokesperson said on Friday.

Cuerpo will seek to "revitalise" the Eurogroup, the spokesperson said in a statement.

"The euro area requires urgent and decisive action to strengthen our economic union and enhance the global role of the euro, all while maintaining fiscal and financial stability," the statement added.

If picked to lead the Eurogroup, Cuerpo intends to push reforms such as the protracted savings and investment union, as well as strategic investments.

The current Eurogroup president is Irish Finance Minister Paschal Donohoe, whose second two-and-a-half year term started in January 2023.

(Reporting by Inti Landauro; Editing by David Latona)