Finance Ministers of the euro area Member States understand Ireland’s commitment to the 12.5 per cent corporation tax rate as, Minister for Finance, Paschal Donohoe TD, was elected President of Eurogroup.

Mr Donohoe set out Ireland’s national position on taxation throughout the campaign for his election as President of Eurogroup.

“During the campaign, when I was asking for the vote of colleagues, they understood what our national position on these matters was,” he said.

The Taoiseach, Micheál Martin described the appointment as a “great win for Ireland”.

“…we have our Minister for Finance at the helm, chairing a very influential and important group”, he said.

Further details of these comments can be read on the Newstalk website.