The European Union's economic affairs Commissioner Mr Pedro Solbes has described the Government's new savings plan as a step in the right direction, but added was is too early to make an assessment of its effectiveness.
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Mr Pedro Solbes
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Mr Solbes made the comments after a meeting with the Minister for Finance Mr McCreevy in Dublin this morning.
The visit by is seen as a diplomatic mission to heal the rift caused between Dublin and Brussels after Europe's finance ministers endorsed the Commission's reprimand of the Government's budgetary policy.
Mr Solbes, who has been a vociferous critic of Mr McCreevy's policies, is on a two day visit to Ireland and will address a conference on the euro in Loughrea Co Galway later today.
On Friday the Government announced a tax-friendly savings as part of the Finance Bill.