McCreevy under fire from banks

FINANCE Minister Charlie McCreevy had his first clash with financial institutions yesterday as head of the group of European finance ministers.

He was accused of encouraging a rise in the euro against the dollar by not being forceful enough in his statement on the strength of the currency on Monday night.

Mr McCreevy, however, defended himself by saying he had simply repeated the joint statement agreed by the European Central Bank, the euro-zone ministers and the Commission.