Herald Opinion: Donohoe departure is big news across Europe

Last week I came across a social-media reminder that Frank Feighan TD would be the Leas-Ceann Comhairle nominee in 2027. It struck me as oddly random at the time, and then, the very next day, news broke that Paschal Donohoe was resigning as Minister for Finance to take up a managing director role at the World Bank. I couldn’t help wondering whether the two events were in any way connected or simply a curious coincidence. Either way, it set my mind turning.

The departure of Paschal Donohoe is big news not just here in Ireland but across Europe, where he served as president of the Eurogroup—an exceptionally prestigious position to which he was elected by fellow member states not once but twice. It was a clear sign of the high regard in which he was held.

Donohoe also has strong Roscommon connections through Ballinagare, where his mother, Caitlín Cunniffe (RIP), came from before moving to Dublin as a young woman.

His departure is one thing, but equally noteworthy is the fact that Simon Harris decided he should replace him as Minister for Finance. It struck me as unusual that Harris felt the need to hold the finance portfolio while also serving as Tánaiste and leader of Fine Gael. Finance, after all, is one of the busiest and most consequential briefs in Government. Any misstep in this department sends ripples throughout every other, often landing directly on the party leader’s desk. Taking on finance isn’t just accepting a portfolio—it’s stepping onto a tightrope where every wobble is public and every fall is political.

That said, I must admit I’m happier to see Mr Harris in a domestic ministry rather than serving as Minister for Foreign Affairs and spending much of his time abroad representing Ireland. I never fully understood why both Micheál Martin and Simon Harris, as party leaders, chose to take on the foreign affairs portfolio when other departments would have benefitted far more from the authority and political weight of the Tánaiste. Housing stands out: the Tánaiste’s political weight might have helped unblock the system far more effectively.

I also have to admit that I’m not convinced Simon Harris is the best fit for Minister for Finance. Yes, he is probably the most experienced member of the Fine Gael parliamentary party at the moment, but experience alone doesn’t make him the right match for such a crucial brief. For all his political experience, Harris is stepping into the job without the financial armour his predecessors carried—it’s a brave move, or a risky one, depending on how you look at it. Unlike Paschal Donohoe, Harris has no background in finance or economics, and he even chose to overlook the chartered accountant Peter Burke—though it must be said that Burke is performing strongly in the portfolio he already holds. Donohoe earned the nickname “Prudent Paschal” for a reason; Harris now steps into a role where prudence isn’t optional, and the learning curve will be steep.

Donohoe also built up two long-term savings funds to prepare Ireland for future demographic and structural challenges. By the end of September this year, he reported that the combined total in both funds “now stands at over €16 billion.” He consistently reminded us that the corporate taxes we collect are temporary and could disappear at any time. They should never be factored into day-to-day budgeting. If they dry up, the State could quickly find itself in difficulty.

Harris’s move to Finance triggered a reshuffle, sending Helen McEntee to foreign affairs—another major promotion. Her CV becomes more impressive every year as she builds experience across multiple departments. Hildegarde Naughton is now Minister for Education, and one would hope that her background as a former primary school teacher will stand to her in this role.

Following all of these appointments and promotions, there was room for just one new junior minister—and the man of the moment is our own Boyle man, now relocated to Sligo: Frank Feighan. Frank has been appointed Minister of State for Public Procurement, Digitalisation and eGovernment. If that timely reminder was his doing, it was a clever move. It’s never a bad thing to ensure people remember you’re still around, and there’s no doubt he achieved that. Hopefully he can now use this role to leave a meaningful legacy before taking on the position of Leas-Ceann Comhairle.

The country may not be in crisis yet, but the margin for error is shrinking. Harris fought hard for the finance brief; now he owns every decision that comes with it. And if things begin to slide, it won’t be Brussels or Brexit or global markets he’ll have to blame—it will be the man in the mirror.