Paschal Donohoe - the never-to-be taoiseach who rose from the ashes of 'McCreevynomics'

"'Prudent Paschal' leaves Irish politics for a €600,000 World Bank role"

"Track back to a long-forgotten Seanad debate in October 2009 to pinpoint the evolution of Paschal Donohoe."

"The country was in the grip of the global economic crash."

"In April that year, then-finance minister Brian Lenihan delivered an emergency budget that slashed spending, hiked taxes and established the National Asset Management Agency (Nama) to remove bad loans from bank balance sheets."

Paschal Donohoe left Irish politics to accept a World Bank position with a €600,000 salary. A long-forgotten Seanad debate in October 2009 marks a formative moment in his political development. The country was in the grip of the global economic crash in 2009. In April that year, then-finance minister Brian Lenihan delivered an emergency budget that slashed spending, hiked taxes and established the National Asset Management Agency (Nama) to remove bad loans from bank balance sheets. Donohoe's reputation for prudence and his policy choices during the crisis helped shape his trajectory toward an international finance role.

Read at Independent