Minister for Public Expenditure and Reform Paschal Donohoe has refused to categorically rule himself out of the running to be the next Managing Director of the International Monetary Fund.
However, speaking to reporters this afternoon, Mr Donohoe insisted that there was no vacancy at present.
Mr Donohoe reiterated that he was focused on his current work as a Minister and President of the Eurogroup, and seeing the current coalition Government re-elected.
"It's always the case, because of the work I do as president [of the Eurogroup] that there is speculation and there are conversations regarding roles in the future", he told reporters.
Asked if he discussed the IMF role with US Treasury Secretary Janet Yellen, Mr Donohoe said that it was a long-standing principle that such discussions are kept private.
On speculation that Minister for Finance Michael McGrath could be Ireland's next European Commissioner, Mr Donohoe said that it was important to take a "step back" from the speculation.
However, he added: "Michael would perform exceptionally in A number of roles in the future."
Earlier, Minister McGrath said he did not know if Mr Donohoe wanted to be the next head of the IMF, but added that it would be an incredible opportunity if the position becomes available.
He said Mr Donohoe has all of the qualities needed to fulfil the role.
"It's a matter for him to come to a personal view on," Mr McGrath said.
The minister added that no one knows yet if there will even be a vacancy, but that the Minister for Public Expenditure would be a really good candidate.
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Corporation tax returns unreliable - Minister
Mr McGrath also warned that corporation tax returns cannot be relied on in the future because they are volatile in nature.
He said the level of receipts has doubled over the last three to four years but that this will not happen into the future and the level of receipts in the future could fall off.
Despite a collection of record returns yesterday, Mr McGrath pointed out that there was weakness in the returns over the previous three months.
Yesterday's figures show that corporation taxes recovered strongly in the month of November, helping the Exchequer to deliver a surplus of €5.4bn.
Just over €6bn was collected in corporation tax, an increase of €1.3bn - or 27% - on last year.
Mr McGrath said yesterday's figures were welcome as they mean that Ireland will achieve its overall budgetary requirements for the year.
Public capital investment will be increased, he told RTÉ's Morning Ireland, and two new funds will be established to meet future costs such as climate, demographic and digitalisation.
Minister McGrath said the income from corporation tax was on the "upside of expectations" but pointed out that November is the "most significant month by far".
He explained that November is the most important month in the exchequer year because corporation and self assessed income tax returns are completed.
The minister also said next year's referendums are about modernising the constitution and there is broad agreement from like minded people that the wording on the role of women in the home must be removed.
He said care will be elevated to constitutional recognition for the first time and the Government has committed to strive to fully support the provision of that care.
