From Bailout to Boss: Greece Takes Helm of Eurogroup

Greece's finance minister is now the president of the Eurogroup. This marks a dramatic shift for a country that once nearly left the euro currency. Kyriakos Pierrakakis was elected on Thursday. He defeated Belgium's candidate for the role. The Eurogroup is the influential body of finance ministers from the 20 nations that use the euro. The appointment highlights Greece's economic recovery. Between 2010 and 2015, the country required three major financial rescues from euro zone partners. These bailouts prevented a total economic collapse during its debt crisis. The Eurogroup president helps guide euro zone policy. Leading this group is a symbolic and powerful position. For Greece, it signals a return from the brink of exit to a place of leadership within the European Union.