Spain's Mr Rodrigo Rato moved a step closer this evening to becoming the next head of the International Monetary Fund (IMF) when he won the backing of European Union finance ministers.
In a statement the Minister for Finance Mr McCreevy said Mr Rato had the "full support" of finance ministers across the bloc and was confident Rato would also receive broad support from the IMF board.
"European finance ministers attached great importance to Mr Rato's distinguished record, wide policy experience and political expertise as a former finance minister in Spain," Mr McCreevy said in a statement.
"This would enable Mr Rato to make an excellent contribution to the IMF." Mr Rato (54) has looked certain to be the next head of the IMF since yesterday, when his main rival, Frenchman Mr Jean Lemierre, withdrew from the race, accepting a new term at the helm of the European Bank for Reconstruction and Development.
Europe has always nominated the IMF managing director in an unwritten convention where the United States claims the helm of the World Bank. The previous holder of the post, Mr Horst Koehler, resigned to seek the German presidency.
Mr Rato is understood to have the backing of the United States and Britain who favour a man who served in the last Spanish government, which strongly supported the US-led war on Iraq.