Michael Noonan ranked 10th of 19 euro finance ministers in Financial Times poll
FINANCE Minister Michael Noonan has been ranked 10th out of 19 European economic leaders in the Financial Times annual poll.
However, he is ranked the highest of finance ministers in bailout countries with Greece’s Evangelos Venizelos, who kept his post in the new Greek government, at the bottom of the pile and Portugal’s Vitor Gaspar at number 12.
Minister Noonan will present his first budget under the Fine Gael-led coalition government next month.
“Michael Noonan…..along with Vitor Gaspar, his Portuguese counterpart, wins plaudits for determination in trying circumstances,” according to the Financial Times.
The newspaper highlighted that he managed to land a rate cut on bailout loans and is benefiting from a modest recovery.
Last year, the now deceased former Fianna Fail finance minister Brian Lenihan came bottom of the league.
Sweden’s outperforming economy put its finance minister Anders Borg top of the list.
“Outside the eurozone, the country has also avoided the bond market turmoil that has rattled Europe’s 13-year old monetary union,” according to the newspaper.
It also noted that while Greece and Italy have just appointed technocratic governments, Sweden has, in effect, has had an elected technocrat running its finances for the past six years – it also had a banking crisis in the 1990s