EU names McCreevy as new commissioner

BRUSSELS – Charlie McCreevy was named as the new EU Commissioner for the Internal Market directorate general in mid-August. Previously finance minister for Ireland, McCreevy was reprimanded by the EU in 2001 for cutting Irish taxes too deeply. However, by many accounts McCreevy's low taxation policy has been responsible for the strong financial growth Ireland has achieved in recent years.

McCreevy, who replaces Frits Bolkestein, has the kind of credentials the City of London likes – indeed most of the important posts in this EU Commission went to commissioners with free-market leanings. "He got his reputation through various tax reforms in Ireland and is known as a tough, single-minded politician," says one industry association official. "From the UK's point of view, I suppose it's not a bad thing that he's Irish, so they can seek to influence that way."

The EU has been strongly

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