Finance Minister Paschal Donohoe says Ireland's low corporate tax rate will remain a national priority during his time as Eurogroup president.
He was voted-in by a secret ballot of national finance ministers last night and will serve a two-and-a-half year term as the EU faces into the worst recession since its foundation.
Some of the bloc's most influential nations, including France and Germany, had pushed for changes to the 13-and-a-half per cent rate in recent years.
But Minister Donohoe says his colleagues in Europe understand the importance of the issue to Ireland.
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