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Charlie McCreevy

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EU Commissioner for Internal Market and Services (2004- 2010), Former Minister (Finance; Tourism; Social Welfare), Ireland

A chartered accountant by training, Charlie McCreevy was an active member of Irish political life from his first election to The Dáil (Irish Parliament) in 1977 until his appointment as EU Commissioner for Internal Markets and Services in November 2004.

During his time in government in Ireland he held the posts of Minister for Finance (1997-2004), Minister for Tourism and Trad...

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...e (1992 to 1993) and Minster for Social Welfare (1992 to 1993).

When in 1997, Fianna Fáil returned to power and McCreevy became Minister for Finance. His period coincided with the Celtic Tiger era which saw the rapid growth of the Irish economy due to social partnership between employers, government and unions; increased female participation in the labour force, decades of tuition-free secondary education; targeting of foreign (primarily U.S.) direct investment; a low corporation tax rate; an English-speaking workforce only five time-zones from New York, and membership of the European Community – which provided payments for infrastructural development and export access to the Single Market.

McCreevy was a consistent advocate of cutting taxes and spending, as Minister he had an opportunity to implement these policies. In 1999 he announced the biggest give-away Budget in the history of the state. The dramatic cut in interest rates which preceded the joining of the Euro, combined with a tightening labour market and tax reductions led to significant increases in inflation.

During his term in Finance, he was responsible for many changes to simplify the tax system and presided over Ireland's entry to the Economic and Monetary Union of the European Union, and later, the changeover to the Euro.

As Commissioner for Internal Market and Services, McCreevy he had a crucial role in overseeing the European financial system, regulations governing the banking system and the development of a single market in financial services throughout the EU.

He has a reputation as an experienced and sometimes outspoken commentator on issues relating to Ireland’s economy and to Europe – from the current Eurozone economic crisis, to the future of the EU and the challenges facing the European financial services sector.

He was appointed Non-Executive Director of Ryanair Holdings Plc in May 2010.

He’s known as a lively speaker and an outspoken commentator with a wealth of experience on the European stage.