McCreevy hopeful of progress at vital talks

FINANCE Minister Charlie McCreevy will host his EU colleagues and central bank governors at a meeting in the controversial Punchestown Exhibition Centre in his Kildare constituency tomorrow.

In what is expected to be a classic piece of horse trading, they hope to agree their nominee for managing director of the International Monetary Fund to succeed Horst Koehler from Germany.

The other issues on their agenda include a discussion of the European Commission’s draft €1,000 billion budget for 2007 to 2013; preparation of the EU’s contribution to the spring meetings of the IMF and the World Bank in Washington; the financial services and markets issues including an update on the EU/US search for a common approach to financial services regulation to ensure greater access to capital markets.