This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXMPEIA30SV_L.jpg
Donohoe was appointed chair of the group of euro zone finance ministers in July 2020 and the government said in a statement that if re-elected, he will carry out his duties as Ireland’s public expenditure minister.
Dublin said it would then have two representatives at the meetings as Donohoe is due to swap positions with current expenditure minister Michael McGrath in December as part of a coalition deal agreed shortly before he became Eurogroup chief.
While this could potentially complicate his re-election bid as the Eurogroup chief is usually a sitting finance minister, Luxembourg had two representatives while Jean-Claude Juncker was head of the influential group.
The Eurogroup played a key role coordinating policy during the financial crises of the last decade, ultimately helping to avoid the collapse of the common currency. Holding the chair has added to Ireland’s influence in the bloc.
It has allowed Donohoe to play an important role in negotiations to overhaul global corporate tax rules that could be particularly damaging for Ireland as it is the low-tax European headquarters for big multinational employers including Apple Inc (NASDAQ:AAPL), Alphabet (NASDAQ:GOOGL)’s Google and Facebook (NASDAQ:META).
The Eurogroup will invite euro zone governments to submit candidates for the job at a meeting in Brussels on Monday.
