Paschal Donohoe has announced he is leaving Government to take up a position with the World Bank. 

The Minister for Finance will also resign as the Fine Gael TD for Dublin Central, triggering a by-election in the seat he shares with Sinn Féin President Mary Lou McDonald. 

Minister Donohoe has been offered the role of World Bank Managing Director - the second most important job in the organisation. 

He has overseen most of Ireland's budgets over the last decade, in either the role of Minister for Finance or Minister for Public Expenditure.

For years, he has been linked to financial positions on the world stage for a number of years and is widely known thanks for his position as head of the Eurogroup.

Main image: Paschal Donohoe. Picture by: Belga News Agency/Alamy Live News.