Juncker wins Spanish EU presidency backing for euro job

(MADRID) - The EU's Spanish presidency gave its backing on Friday for Luxembourg's Jean-Claude Juncker to be given a new mandate to lead the group of countries that use the euro in economic and monetary matters.

"Spain will without question support Mr. Juncker," said Spanish Finance Minister Elena Salgado ahead of a vote to give Juncker another 30 months as head of the Eurogroup of finance ministers.

However, Salgado also called on Luxembourg to implement "full fiscal transparency," a source of friction for opponents of banking secrecy laws throughout Juncker's 10 years in office since the introduction of the single euro currency.

"What's good for Europe is also good for Luxembourg," she stressed.

Europe's longest-serving leader is so far the only candidate for the job of Eurogroup president and barring an unimaginable shock, will reaffirm close control over common money matters after a show of hands.

The 16 countries at the core of continental Europe's economy will meet on January 18, a day before finance ministers from all 27 EU nations also gather in Brussels.

France's Christine Lagarde had previously suggested an interest were Juncker to have secured the job of the EU's first full-time president but Salgado said she was "not aware" of any rival candidates at this stage.

Italian media have touted an interest from their Finance Minister Giulio Tremonti.

Salgado also called on Juncker to encourage "better political coordination" in order to drive stronger growth.