Oostenrijk verzet zich tegen oprichting van een vaste voorzitter van de Euro-groep (en)

Plans to create a permanent head of the eurogroup - the council of finance ministers from the 12 euro countries - may run into opposition from Austria, reports the FT.

The post - inevitably dubbed "Mr Euro" - was foreseen in the new European Constitution, but ministers would like to pre-empt the ratification of this Treaty and install a permanent President as soon as possible.

"Mr Euro" would represent the euro zone at international gatherings such as the G7 meeting of leading industrial nations. He would work closely with the President of the European Central Bank, Jean-Claude Trichet and would also chair the monthly meetings of the 12 euro zone countries for a period of two and a half years.

But the timeframe of this latter responsibility is creating problems.

It is widely assumed that the Luxembourg Prime Minister Jean-Claude Juncker will be appointed to the job.

Since his country takes over the Presidency of the EU in January 2005, Mr Juncker - who also acts as his country's finance minister - will chair the eurogroup council anyway.

Mr Juncker is also set to continue in the eurogroup chair for the second half of 2005 because the UK - not a member of the euro zone - will then take over the rotating Presidency of the EU.

If Mr Juncker were appointed "Mr Euro", it would be the Finnish and Austrian Presidencies that would lose out under the two and a half year system because they are due to take over in 2006.

Finland has dropped its objections, but Austria is threatening to delay the implementation of the post, according to the FT.

Most euro zone countries - including heavyweights France and Germany - support the plans, which will be discussed, amongst many other issues, at the informal meeting of finance ministers in the Netherlands this coming weekend.