History of Paschal Donohoe in Timeline

Paschal Donohoe is an Irish Fine Gael politician prominent in Irish and European politics. He currently serves as Ireland's Minister for Finance (since January 2025, and previously 2017-2022) and has held the position of President of the Eurogroup since July 2020. Elected as a Teachta Dála (TD) for Dublin Central in 2011, Donohoe has held several ministerial portfolios including Minister for Public Expenditure, NDP Delivery and Reform (2022-2025), Minister for Public Expenditure and Reform (2016-2020), Minister for Transport, Tourism and Sport (2014-2016), and Minister of State for European Affairs (2013-2014), indicating a long and impactful career in Irish governance.

Sections (3)

Full Timeline Early Life & Education Career & Achievements

1974: Birth in Phibsborough, Dublin

Paschal Donohoe was born in 1974 in Phibsborough, Dublin, and grew up in Blanchardstown. He is the son of a Stena Line employee who also worked renting marquees and tents.

1996: Graduation from Trinity College Dublin

In 1996, Paschal Donohoe graduated from Trinity College Dublin with a first-class honours degree in Politics and Economics as part of the Business, Economics and Social Science (BESS) degree programme.

2001: Marriage to Justine Davey

In 2001, Paschal Donohoe married British-born Justine Davey. They have two children and live in Phibsborough.

2003: Return to Ireland

In 2003, Paschal Donohoe returned to Ireland to pursue a career in politics after spending six years working in the United Kingdom for Procter & Gamble.

2004: Election to Dublin City Council

In 2004, Paschal Donohoe was first elected at the Dublin City Council election for the local electoral area of Cabra–Glasnevin. During this time he was Chairperson of the Central Area Committee, Chairperson of the Environmental Strategic Policy Committee and a member of the City Corporate Policy Committee.

2006: Financial Crisis

Paschal Donohoe presided over public finance during a time when a budget surplus was recorded (in 2018) for the first time since the financial crisis in 2006.

July 2007: Election to Seanad Éireann

In July 2007, Paschal Donohoe was elected to Seanad Éireann as a Senator for the Administrative Panel, after an unsuccessful candidacy at the 2007 general election in the Dublin Central constituency.

October 2007: Appointment as Fine Gael Seanad Spokesperson

In October 2007, Paschal Donohoe was appointed as Fine Gael Seanad Spokesperson on Transport and the Marine. He was also a member of the Joint Oireachtas committee on Transport and the Joint Oireachtas committee on European Affairs.

October 2008: Appointment as Chairman of the Joint Oireachtas Committee on Ireland's Future in Europe

In October 2008, Paschal Donohoe was appointed Chairman of the Joint Oireachtas Committee on Ireland's Future in Europe by Enda Kenny.

2009: Unsuccessful Dublin Central by-election

In 2009, Paschal Donohoe contested the Dublin Central by-election caused by the death of Tony Gregory, but he was unsuccessful.

2011: Election to Dáil Éireann

In 2011, Paschal Donohoe topped the poll at the general election and was elected to Dáil Éireann on the 2nd count.

July 2013: Appointment as Minister of State for European Affairs

On 12 July 2013, Paschal Donohoe was appointed as Minister of State for European Affairs, following the resignation of Lucinda Creighton.

July 2014: Promotion to Minister for Transport, Tourism and Sport

On 11 July 2014, Paschal Donohoe was promoted to the cabinet as Minister for Transport, Tourism and Sport.

May 2016: Appointment as Minister for Public Expenditure and Reform

In May 2016, Paschal Donohoe was appointed Minister for Public Expenditure and Reform following the formation of a Fine Gael minority government.

May 2016: End of Term as Minister for Transport, Tourism and Sport

Paschal Donohoe's tenure as Minister for Transport, Tourism and Sport concluded on 6 May 2016.

October 2016: First Budget as Minister for Public Expenditure and Reform

In October 2016, Paschal Donohoe, as Minister for Public Expenditure and Reform, presented his first budget, announcing €58 billion in expenditure and signalling the impact of Brexit on Ireland. He took over the workload from Minister for Finance Michael Noonan due to Noonan's hospitalization.

2016: Government Formation Negotiation

In 2016, Paschal Donohoe was part of the Government's negotiating team, resulting in the formation of a minority Fine Gael government supported by a confidence and supply agreement with Fianna Fáil.

2016: Donation Declaration Controversy

In early January 2023, it was revealed that Paschal Donohoe failed to properly declare a donation of services from a company in 2016. He apologized for making incorrect declarations and said he would recuse himself from any decision making around ethics legislation, but refused to resign. A new issue over expenses following the 2020 general election was also identified.

June 2017: Appointment as Minister for Finance

Following Leo Varadkar's appointment as Taoiseach, Paschal Donohoe took office as Minister for Finance on 14 June 2017.

October 2017: Presentation of First Budget as Minister for Finance

On 10 October 2017, Paschal Donohoe presented his first budget as Minister for Finance.

2018: Increase in Capital Expenditure

Budget 2019 saw an increase in capital expenditure by 25%, going from €5.7bn in 2018 to €7.2bn in 2019 under Paschal Donohoe's leadership.

2018: Issuing of First Green Bond

In 2018, Paschal Donohoe and Michael D'Arcy welcomed Ireland's issuing of its first green bond, making Ireland one of the first countries in the world to do so. He also published Ireland's Roadmap on Corporation Tax (CT).

2018: Negotiation of Public Service Stability Agreement

In 2018, Paschal Donohoe negotiated the Public Service Stability Agreement 2018–2020, outlining the unwinding of emergency legislation introduced during the financial crisis (FEMPI).

2018: Budget Surplus Recorded

In 2018, Paschal Donohoe oversaw public finance during a time when a budget surplus was recorded for the first time since the financial crisis (2006).

2018: Tax Increases for Increased Spending

In Budget 2018, Paschal Donohoe increased taxes in order to allow for increased spending, this was done by tripling the stamp duty rate on the sale of commercial property.

2018: Davos World Economic Forum Attendance

Paschal Donohoe attended the Davos World Economic Forum in 2018 and 2019. He is an opponent of the European Commission's Digital Services Tax, favouring a more globalised approach and a staunch defender of Ireland 12.5% corporation tax.

2019: Increase in Capital Expenditure

Budget 2019 saw an increase in capital expenditure by 25%, going from €5.7bn in 2018 to €7.2bn in 2019 under Paschal Donohoe's leadership.

2019: Davos World Economic Forum Attendance

June 2020: Second Term as Minister for Finance

Following the appointment of Micheál Martin as Taoiseach, Paschal Donohoe was appointed for a second term as Minister for Finance on 27 June 2020.

June 2020: End of Term as Minister for Public Expenditure and Reform

Paschal Donohoe's period as Minister for Public Expenditure and Reform ended on 27 June 2020, following the formation of the 32nd government led by Micheál Martin.

July 2020: Election as President of the Eurogroup

On 9 July 2020, Paschal Donohoe was elected as President of the Eurogroup, succeeding Mário Centeno to take office on 13 July 2020.

2020: Negotiation of Public Service Stability Agreement

In 2018, Paschal Donohoe negotiated the Public Service Stability Agreement 2018–2020, outlining the unwinding of emergency legislation introduced during the financial crisis (FEMPI).

2020: Donation Declaration Controversy

November 2022: Nomination for Second Term as Eurogroup President

In November 2022, the Irish Government announced its intention to nominate Paschal Donohoe for a second term as President of the Eurogroup, despite the expected cabinet reshuffle where he would no longer be the national finance minister.

December 2022: Nomination for Second Term as Eurogroup President

In December 2022, Micheál Martin was due to resign as Taoiseach and be replaced by Leo Varadkar, with Martin becoming Tánaiste in place of Varadkar. As part of this change of Taoiseach, a wider cabinet reshuffle was expected, with Michael McGrath of Fianna Fáil expected to become Minister for Finance in place of Donohoe, and Donohoe assuming McGrath's role as Minister for Public Expenditure and Reform.

December 2022: Appointment as Minister for Public Expenditure

On 17 December 2022, after Leo Varadkar succeeded as Taoiseach, Paschal Donohoe was appointed as Minister for Public Expenditure, National Development Plan Delivery and Reform, while Michael McGrath was appointed as Minister for Finance.

December 2022: Re-election as President of the Eurogroup

On 5 December 2022, Paschal Donohoe was re-elected as President of the Eurogroup, beginning his second term on 13 January 2023.

January 2023: Donation Declaration Controversy

January 2023: Second Term as President of the Eurogroup

On 5 December 2022, Paschal Donohoe was re-elected as President of the Eurogroup, beginning his second term on 13 January 2023.

January 2023: Expiration of Eurogroup Presidency Term

Paschal Donohoe's term as president was initially due to expire in January 2023. The Irish Government announced its intention to nominate Donohoe for a second term as President of the Eurogroup in November 2022.

2024: Re-election to the Dáil

At the 2024 general election, Paschal Donohoe was re-elected to the Dáil.

2024: Appointment as Minister for Finance

On 23 January 2025, Paschal Donohoe was appointed as Minister for Finance in the government led by Micheál Martin, following the 2024 general election.

January 2025: Appointment as Minister for Finance

On 23 January 2025, Paschal Donohoe was appointed as Minister for Finance in the government led by Micheál Martin, following the 2024 general election.

June 2025: Candidacy for Eurogroup Presidency

In June 2025, Paschal Donohoe put forward again his candidacy to the Eurogroup Presidency, together with Carlos Cuerpo and Rimantas Šadžius.

November 2025: Resignation from Political Roles

In November 2025, Paschal Donohoe announced his resignation from his political roles as Teachta Dála (TD) and Minister of Finance to join the World Bank as Managing Director and Chief Knowledge Officer.

2040: Project Ireland 2040

Working with Cabinet colleagues, Paschal Donohoe engineered a new €116bn, 10-year National Development Plan which underpins Project Ireland 2040; a plan aimed at preparing for an Ireland with an additional one million residents and 660,000 more in employment.