The summit of European leaders in Barcelona aims to make the EU "the most competitive and dynamic knowledge-based economy in the world" by 2010, the Taoiseach has said.
Speaking in advance of the two-day summit, Mr Ahern also said that "where there is an effort to liberalise the economy and to deregulate in an orderly manner, jobs are created".
However, Labour Party leader Mr Ruairí Quinn said today that although there is "a clear onus on Europe to improve its competitive position, it is only half the story".
Mr Quinn said the Taoiseach's comments neglect the extent to which liberalisation can lead to the withdrawal of public services from some communities.
"While competition in the provision of services is often acceptable it must be balanced by legal support for the provision of services to all our citizens," he said.
Around 8,500 police officers, as well as Spanish air force jets and the navy, have been drafted in to guard leaders from the 15 EU countries. They will be joined by 13, mostly Eastern European, candidates for EU membership who will attend the meeting in the Mediterranean port on Friday and Saturday.
EU leaders will try to kickstart an ambitious structural reform programme launched in Lisbon two years ago but which has since become bogged down.
Additional reporting
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