Advisor: Hollande could push Ireland on corporation tax

An advisor to the new French president has said he believes Francois Hollande will push for harmonised corporate tax rates across the eurozone.

His predecessor in the job Nicolas Sarkozy had put pressure on Ireland in the past to raise its corporation tax rate of 12.5%.

Mr Hollande's advisor Philippe Aghion has said it remains to be seen how much progress the president will make on harmonised tax rates, but he will also want financial and banking regulation harmonised.

If Ireland refuses to budge on its corporation tax rate because of fears such a move would mean job losses, Mr Aghion said the French president would see it as "a question of give and take".