MNI SOURCES: Latvia, Portugal FinMins Seek Eurogroup Top Job

--Portugal's Mario Centeno Remains Favourite To Succeed Dijsselbloem

--Italy PM Rules FinMin Piercarlo Padoan Out Of Role

By Jean Comte and Silvia Marchetti

     BRUSSELS/ROME (MNI) - Latvia finance minister Dana Reizniece-Ozola and

Portugal's Mario Centeno have both applied for the position of Eurogroup

president, Market News has learned.

     Applications can be sent until midday Brussels time and minister will elect

the new chair next Monday.

     According to a diplomatic source, both Reizniece-Ozola and Centeno

forwarded their applications Thursday.

     Reizniece-Ozola's chances are seen as limited, as Centeno emerged in recent

days as the favoured candidate -- defeating other centre-left candidates

including Slovakia's Peter Kazimir and Italy's Piercarlo Padoan.

     Italy's prime minister, Paolo Gentiloni, ruled out all chances of Italy's

Piercarlo Padoan becoming the next Eurogroup chief, citing upcoming elections

and the possibility of a new government from next Spring.

     Gentiloni, acknowledging that Padoan was among the best qualified figures

on the European stage at present, said "bad timing" put his finance minister out

of the contest to succeed Dijsselbloem.

     A government source confirmed to Market News on Thursday that "the picture

is now clear", arguing that the current government had only a few months left of

lifespan before Italians are called to the ballot boxes to elect a new

parliament and therefore another, new cabinet.

     Padoan's name had been circulating until recently as one of the main

contenders for the high-profile role.

     Another official close to the Italian government argued that even if

Gentiloni's government had a longer lifespan, chances of having Italians leading

the union's most prominent bodies -- with Mario Draghi as European Central Bank

head -- would be highly unlikely. 

     A third Italian heads another of the key European institutions, with

Antonio Tajani the current European Parliament president. 

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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