Monday, March 06, 2006

Charlie McCreevy = Austin Powers

We noted a little while back that the Wall Street Journal was falling out of love with the soldiers of destiny, at least in the European Union capacities, but Monday's Wall Street Journal (subs. req'd) is willing to give them a second chance, now that Charlie McCreevy is exerting some muscle in the European energy sector mergers and acquisitions:

In recent months Mr. McCreevy came in for criticism, including from us, for his lackluster efforts to liberalize trade in services. The Commission has also rarely lacked for cowardice in cases involving state intervention in the economy. So we're glad to see the once feisty former Irish finance minister stand up to the protectionists for a change.

As if to show that he's not just picking on France [Suez/Gaz de France merger], Mr. McCreevy is looking into Madrid's backdoor schemes to stop Germany's E.On from buying Endesa. This week he's supposed to take the Polish government to court for blocking a merger between two local banks with Italian connections. We hope, along with other long-time supporters of the European project, that Mr. McCreevy has got his mojo back. He'll need it.

Or, McCreevy to EU governments: Oh Behave!

No comments: