EU/Business reaction: Business groups have welcomed the appointment of the Minister for Finance, Mr McCreevy, as the EU Internal Market Commissioner, writes Laura Slattery
Financial Services Ireland (FSI), the IBEC-affiliated body representing the financial services industry, said the move was particularly important for the Republic.
"As a small, open economy, the internal market brief is of critical importance to Ireland - we have benefited enormously from the expansion of the single market and the removal of barriers to trade," said Ms Aileen O'Donoghue, director of FSI.
Ms O'Donoghue said the body was pleased that Mr McCreevy will have responsibility for financial services policy, as the sector employs a significant number of people here. "We are sure that he will be a strong advocate for the completion of the single market in the financial sector."
The Institute of Chartered Accountants in Ireland (ICAI), of which Mr McCreevy is a member, said it was pleasing from a national perspective to see the minister appointed to senior economic portfolio.
Mr Terence O'Rourke, president of the ICAI, said it was appropriate, given Mr McCreevy's professional background, that he has been given responsibility for the internal market, competitiveness and company law issues, including accounting and auditing policy.
Mr O'Rourke said "a firm hand" by the new commissioner was needed to resolve ongoing difficulties with the adoption of new accounting standards.
The Irish Small & Medium Enterprises Association (ISME) said it had been disappointed by the minister's move to the EU because it felt he had "unfinished business" in the Republic.
"The internal market is not one of the top three or four portfolios, but it's in the middle of the premier division and we feel he's certainly well able of looking after the single market, which the EU has been struggling with since 1993," said ISME's chief executive, Mr Mark Fielding.
"He has proven in his tenure as the Minister for Finance that he is capable of getting things done and we would hope that he would have similar or better input into the single market," he said.
The Irish Farmers Association (IFA) congratulated Mr McCreevy on his appointment, saying the challenge of making the European market work more efficiently and making the EU more competitive was a major one. IFA president, Mr John Dillon, said the new Commissioner for Agriculture, Ms Mariann Fischer Boel, faced the immediate challenge of defending the Common Agricultural Policy at the World Trade Organisation negotiations..