EU names McCreevy as new commissioner

Regulatory update

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 stron

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