Plannen voor instelling van een "Voorzitter Euro-landen" (en)

EUOBSERVER / BRUSSELS - Ministers from the 12 countries that share the euro will today discuss plans to create a President amongst them - inevitably dubbed "Mr Euro" - to represent the group at international level.

This "Eurogroup Chairman" would also maintain contacts with the European Central Bank and remain in the post for two and a half years, chairing monthly meetings and providing a public face for the twelve member body.

According to the Financial Times, Luxembourg prime minister Jean-Claude Juncker is favourite to be appointed to the new role.

Mr Juncker, who refused the post of Commission President despite being backed by many member states, could combine this job with his role of prime minister.

However, the Dutch Presidency - which chairs its first meeting of finance ministers today -says that no plans have been made to nominate a specific individual.

Only the concept of the post will be discussed, say diplomats.

The creation of such a post is already envisaged in the as-yet-unsigned Constitution but ministers - led by France - are keen to see someone installed as soon as possible.

Last week, Dutch finance minister and current President of the group denied that this is pre-empting the Constitutional treaty even though it has not been ratified.

"[The] eurogroup is legally not existing", said Mr Zalm. "In that sense we are free".

"I don't think we are doing bad things if we are changing it".

Dodging the early warning

Amongst the finance ministers today will be Italian prime minister Silvio Berlusconi, standing in for Giulio Tremonti, who resigned as finance minister over the weekend.

Mr Berlusconi will be attempting to persuade his colleagues not to impose a so-called "early warning" on his country for breaking the rules that underpin the euro.

Rome was threatened with an early warning - the first step in the punishment process for countries in breach of the rules - in May after projections showed that its budget deficit was heading above the ceiling of three percent of gross domestic product (GDP).

Brussels then called on Italy to take measures to trim its deficit but the decision to hand out a warning to Italy was postponed by ministers.

Mr Berlusconi will present a package of measures intended to reduce the deficit to his colleagues in the hope that he can persuade them to again postpone the humiliation of being rebuked by his peers.

But Dutch finance minister Gerrit Zalm - well known for his toughness on countries breaking the euro rules - has indicated that the decision might not be postponed again.

According to AFP, he told reporters that "July is not too soon", joking that the name of the procedure would otherwise have to be changed to "late warning procedure".

However, it depends on what Mr Berlusconi brings to the table. Sources close to the Dutch Presidency told the EUobserver, "we will look at the figures and see whether they are sufficient. If the package is adequate, then there will be no problem".