Cypriot Banking Crisis (2013)

In shift away from austerity, euro countries pick new leader

Portuguese Finance Minister Mario Centeno has won the race to be the next voice of the 19-country eurozone, a victory that marks a move away from the austerity mantra that has marked the recent crisis-ridden years in the single currency bloc.

Centeno, the overwhelming favorite, came out on top after two rounds of voting among his peers and will officially succeed Dutchman Jeroen Dijsselbloem on Jan. 13. His term as eurogroup president will last for two and a half years.

Following his victory, Centeno said he hoped to promote "inclusive" growth policies that will help "put an end to a period that was very difficult for Europe." Other priorities include...

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