(CS) Insiders from Brussels are suggesting that Luxembourg Prime Minister Jean-Claude Juncker will remain the head of the Eurogroup after his current term expires in July.

While the Premier has frequently stated that he would not fill the post for another term, the EU's finance ministers have failed to agree on a replacement as of yet.

Speculation had put German Finance Minister Wolfgang Schäuble in the spot as head of the Eurogroup. While Juncker publicly supported the candidate, the new French government and Finance Minister Pierre Moscovici were unhappy with the choice.

The latest contender for the position was Estonia's Finance Minister Jürgen Ligi.

However, AFP correspondent Christian Spillmann tweeted yesterday that Juncker will remain at the helm of the group, citing an EU insider. German paper “Die Zeit” also ran the news referring to inside sources.

In 1991 Juncker signed the Maastricht treaty as Luxembourg's Finance Minister paving the way for the single European currency. He has since become one of the EU's veterans in all matters euro.

More recently, Juncker showed himself tired of the double responsibility as Luxembourg Prime Minister and head of the Eurogroup. With changes foreseen to the post, making it a full-time position based in Brussels, the Grand Duchy's PM had announced that he would not seek another term at the helm of the Eurogroup.

Whether the rumours are true is likely to come out on Thursday, at yet another summit tackling the European debt crisis.