Paschal Donohoe is leaving his role as Ireland’s Finance Minister and President of the Eurogroup for a new job at the World Bank.
Donohoe has been president of the Eurozone’s group of finance ministers since 2020.
Serving as Ireland’s Minister of Finance since 2017, he survived reshuffles within Fine Gael and Fianna Fáil with a change of job title, becoming Minister for Public Expenditure between 2022 and 2025, before returning as Minister of Finance after the last general election.
Throughout he retained his EU job as President of the Eurogroup, which is a job selected from amongst EU finance ministers.
In Brussels, he is regarded for his calm composure and ability to find a compromise amongst the 20 current Eurozone members.
Quitting his job as an Irish minister means he also loses his Eurogroup job.
It is understood that Donohoe is leaving to take up a new post as as Managing Director and Chief Knowledge Officer at the World Bank.