Dutch finance minister Jeroen Dijsselbloem may lose his role as chairman of the influential Euro group after one term in office, Dutch media reported at the weekend.

Various media sources say Dijsselbloem faces a direct challenge from Spanish finance minister Luis De Guindos, whom German chancellor Angela Merkel came out in favour of last week.

Nevertheless, the Netherlands seems set to press ahead with Dijsselbloem’s campaign for a second term.

‘It is extremely likely’ Dijsselbloem will be nominated for a second term at the helm of the influential Euro group, prime minister Mark Rutte said on Saturday.

Speaking after the EU summit at which Poland’s prime minister Donald Tusk was chosen to succeed Herman van Rompuy as chairman, Rutte said ‘I think there is a good chance he [Dijsselbloem] will continue if that is what he wants.’

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The position of Euro group chairman runs for two years and Dijsselbloem’s term expires in 2015.

According to broadcaster Nos, Van Rompuy also said at a news conference that other leaders consider De Guindos would be a good chairman, although he stressed the job is not yet up for discussion.

However, this makes it increasingly likely Dijsselbloem will lose the job after a single term, Nos said.

The Volkskrant points out that De Guindos was the only finance minister not to support Dijsselbloem when he was voted in as chairman 18 months ago.