Government 'hopeful' McGrath will secure European finance portfolio

As the Irish Examiner reports, the Fianna Fáil Cork South-Central TD was nominated by the Government in June with an eye to landing a plum financial portfolio.

However, the decision of Fianna Fáil MEPs to vote against Ms von der Leyen for a second term has been cited as one potential reason why he may not get a high-profile commissionership.

Likewise, the decision of Ireland not to nominate both a man and a woman for the job has been mooted as hurting Mr McGrath’s chances.

However, Government sources say the Corkman’s experience and his “credibility” on a European level will stand to him, as will Ireland’s standing in Brussels.

Ursula von der Leyen will appoint 27 commissioners.

In recent days, there has been some optimism in Government circles that Mr McGrath could receive a top job, with one source saying there was “a small chance” that Mr McGrath could keep the financial stability, financial services, and the capital markets union role currently held by Mairead McGuinness.

Mr McGrath faces stiff competition in the appointments process, with three other former finance ministers and three former prime ministers up for selection, but former colleagues have said he is “more than capable of doing any job” in Brussels.

Ms von der Leyen will appoint 27 commissioners, one from each EU state, with individual candidates then going before the relevant European Parliament committees for approval.

Full approval by MEPs will not come until later in the year, perhaps as late as November.