One of the country's top civil servants John Moran has resigned from his position in the Department of Finance.

Minister for Finance Michael Noonan says it is with regret that he accepts Mr Moran's resignation as Secretary General.

He says he played a leading role in recapitalising the banking sector and restoring the economy at a very difficult time.

Minister Noonan says that since Mr Moran's appointment as Secretary General he has been involved in every significant decision taken throughout the bail out programme, including those decisions which saw Ireland successfully exiting the programme.

Newstalk's Business Editor Ian Guider says Mr Moran is not going to any new position, nor is he getting any golden handshake: