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Euro rescue fund to get new chief as its old glory fades

FILE - Portuguese Finance Minister Joao Leao rings a bell to signal the start of the Ecofin meeting at the European Council building in Luxembourg on June 18, 2021. Finance ministers from the 19 countries that share the euro currency may decide Thursday, June 16, 2022 on a successor to Germany’s Klaus Regling as managing director of the European Stability Mechanism. In the running are two former finance ministers, Pierre Gramegna of Luxembourg and Joao Leao of Portugal, plus a senior European Commission official from Italy, Marco Buti. (Julien Warnand/ Pool Photo via AP, File) FILE - Luxembourg's Finance Minister Pierre Gramegna arrives at the Economic and Financial Affairs Council meeting at the Europa building in Brussels on Dec. 7, 2021. Finance ministers from the 19 countries that share the euro currency may decide Thursday, June 16, 2022 on a successor to Germany’s Klaus Regling as managing director of the European Stability Mechanism. In the running are two former finance ministers, Pierre Gramegna of Luxembourg and Joao Leao of Portugal, plus a senior European Commission official from Italy, Marco Buti. (AP Photo/Olivier Matthys, File) FILE - Euro coins lie on a table in Munich, Germany on March 30, 2022. Finance ministers from the 19 countries that share the euro currency may decide Thursday, June 16, 2022 on a successor to Germany’s Klaus Regling as managing director of the European Stability Mechanism. (AP Photo/Matthias Schrader, File) FILE - Managing Director of the European Stability Mechanism Klaus Regling speaks during a media conference after a meeting of eurozone finance ministers in Lisbon on May 21, 2021. Finance ministers from the 19 countries that share the euro currency may decide Thursday, June 16, 2022 on a successor to Germany’s Klaus Regling as managing director of the European Stability Mechanism. (AP Photo/Armando Franca, File)