MICHAEL MCGRATH IS to be appointed Ireland’s new EU Commissioner. 

The three coalition leaders met this evening to discuss the matter.

Tánaiste Micheál Martin will now bring the nomination to Cabinet for approval on Tuesday with the resignation of the minister to follow shortly after. 

It is understood the name of the new finance minister could be known by the end of day tomorrow.

Finance Minister McGrath has represented Ireland on the Economic and Financial Affairs Council (ECOFIN) and has held governor roles in many international bodies, such as the European Investment Bank.

Speaking reporters ahead of a meeting with the European Foreign affairs council in Luxembourg this morning, Martin confirmed that the next commissioner would need to be a “high-calibre candidate”.

Upon the formation of this government, it was decided that Fianna Fáil would appoint the next commissioner to replace Fine Gael’s Mairead McGuinness. 

There had been widespread reports that Finance Minister Michael McGrath was set to be named as Ireland’s commissioner.

Commissioners are regarded as the highest-ranking diplomats in the EU and are the people who are put in charge of drafting and amending various types of new European policy.