French Finmin Says Not Campaigning for Eurogroup Job

France Finance Minister, Pierre Moscovici
Balint Porneczi | Bloomberg | Getty Images
France Finance Minister, Pierre Moscovici

France's finance minister said on Friday he was not campaigning to replace Jean-Claude Juncker as the new chairman of euro zone finance ministers, although he had been mooted as a possible candidate.

"We will think about it collectively, I am not a candidate," Pierre Moscovici told BFM TV. "The president must be picked by consensus. I am not campaigning."

A source close to the minister clarified his comments saying the process to elect a new chief had not started yet and it would be premature to talk about candidates.

Luxembourg's Prime Minister Juncker said on Monday he would step down as Eurogroup chief at the end of this year or early next, giving policymakers just four weeks to find a successor to fill a potential power vacuum.

Moscovici emerged as a candidate for the job on Tuesday. following Juncker's announcement.