Fine Gael TD Mr Alan Dukes today accused the Minister for Finance of bringing "unnecessary embarrassment" to the country after today’s reprimand from the EU’s finance ministers.
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Mr Dukes said Mr McCreevy’s "unnecessarily confrontational approach, made more offensive by a lamentably ill-judged intervention by the Tanaiste Mary Harney, has cost Ireland both credit and goodwill with our EU partners."
He said EU guidelines are there for the good of all member States, but because of Minister McCreevey’s "unnecessary mulishness" the Government cannot credibly look to the EU for protection if a large member State were to breach the guidelines.
Earlier Sinn Fein TD, Mr Caoimhghín Ó Caoláin described the reprimand as "part of an attempt to bully the Irish Government into changing its Budget and cutting public spending".
Commenting on the situation, UK Shadow chancellor Michael Portillo said: "When Ireland joined the euro it gave up the right to set its own interest rates. It therefore surrendered the only effective tool that exists for a government to control inflation.
"It seems bizarre now for the Commission to attack Ireland for not controlling inflation.
"Whatever decisions it took on taxes, they could not be a substitute for using interest rates to control inflation.
"The Irish wish to be globally competitive and are following the global tide in cutting taxes.
"Again it seems bizarre that they should be criticised by the Commission for doing so. Britain is now almost alone in trying to swim against that tide.
"Joining the euro means that the government of any member state has to give up many elements of control over their economy.
"Apparently it also means that the Commission will criticise and even punish governments that try to cope with the malign consequences joining the euro."