Tánaiste Leo Varadkar has said it could still be possible for Paschal Donohoe to remain as President of the Eurogroup even if he was not Minister for Finance.

Mr Varadkar said an assumption was "erroneously" being made that Mr Donohoe has to be the Finance Minister to retain the position, adding that "is not necessarily the case".

He said there had not yet been any discussion on Cabinet positions among coalition party leaders ahead of the switchover in December.

He added that he has not been been lobbied by anyone outside of Ireland about the role.

Mr Varadkar also said that it was not possible for Fianna Fáil's Michael McGrath to inherit the position of President of the Eurogroup as he said the role is elected by other finance ministers.

He also said he did not know if it was possible for Ireland to have two people on the group of finance ministers.

He repeated that the Presidency role is of benefit to Ireland

"When international agreements were made on corporate tax, the fact that the person speaking on behalf of the euro zone was an Irish minister was very useful in crafting proposals that helped protect our interests," the Tánaiste said.