The Republic is likely to put forward a senior Irish banker for membership of executive board of the European Central Bank (ECB) over coming months.
Current board member, Ms Sirkka Hamalainen, is due to step down from her position at the end of May, leaving a vacancy on the bank's supreme decision-making body.
The Minister for Finance, Mr McCreevy, has previously expressed a belief that all member-states should, over time, put forward nominees for the executive board. He told the Spanish presidency of the EU last year that the Republic would be putting a candidate forward for Ms Hamalainen's position.
Board members are appointed by agreement between euro-zone governments, with the European Parliament also involved in consultations.
To be considered, a candidate must be "of recognised standing and professional experience in monetary or banking matters".
All members of the current board, which is headed by Mr Wim Duisenberg, have held top positions in their respective domestic central banks.
A Department of Finance spokesman declined to comment on the process of nominations yesterday but an ECB spokesman said the bank would like a replacement for Ms Hamalainen to be nominated as soon as possible in order to assure the good functioning of the ECB.
The successful candidate will be offered an eight-year contract and will share remuneration of about €2 million with fellow board members.
Austria's finance minister said yesterday that at least two other states were likely to put forward a nominee for the job. Austria and Belgium are interested, according to Mr Karl-Heinz Grasser.
Mr Grasser said the candidacy of French central banker Mr Jean-Claude Trichet for the top post at the ECB would depend on the outcome of his court case.
Mr Grasser said Mr Trichet was well-qualified to take over as ECB president when Mr Duisenberg retires later this year but that he would support another French candidate if necessary.
Mr Trichet, the 60-year-old head of the Bank of France, went on trial this week on charges of complicity in an alleged cover-up of losses at state-owned Crédit Lyonnais, which came close to collapse a decade ago.- (Additional reporting, Reuters)
