ESM Board of Governors appoints Kyriakos Pierrakakis as its Chairperson

(Luxembourg) – The Board of Governors of the European Stability Mechanism (ESM) appointed Kyriakos Pierrakakis as its Chairperson, effective as of 12 December, for the duration of his mandate as Eurogroup President. In this capacity Mr Pierrakakis succeeds Paschal Donohoe, who resigned as President of the Eurogroup last month.

Mr Pierrakakis was appointed Minister of Economy and Finance of Greece in March 2025. He is also a Member of the Hellenic Parliament. Prior to that, from 2023 to 2025, Mr Pierrakakis served as Minister of Education, Religious Affairs, and Sports. Previously, from 2019 to 2023, he served as the country's Minister of Digital Governance.

“I congratulate Kyriakos Pierrakakis on his appointment as Chairperson of the ESM Board of Governors. This appointment also recognises how far Greece has recovered from the financial crisis of the last decade, with the ESM proud to have been a partner in that journey. Mr Pierrakakis’s leadership will undoubtedly help advance the shared goal of stability and prosperity across the euro area,” said Managing Director Pierre Gramegna. 

The Board of Governors is the highest governing body of the ESM and comprises the Ministers of Finance of the euro area member states. The Board of Governors' most important decisions require unanimous agreement, including decisions to lend funds to an ESM Member.