Presidency of the EU - A six-month job well done, again

Ireland’s presidency of the EU formally comes to an end on Sunday. It was the seventh time that Ireland undertook the presidency since joining the European Economic Community 40 years ago.

The novelty has clearly worn off over the decades, but this is a reflection of the community’s growing maturity and our acceptance of the responsibilities of membership. Much work was conducted behind the scenes, and the leadership provided in addressing EU’s problems determines the success of the presidency.

There have been a number of significant agreements, especially in recent days. It was ironic that while the leaked tapes from Anglo Irish Bank were being played on the national airways and reported in the international media like a farce, Taoiseach Enda Kenny was helping to broker a seven-year EU budget agreement worth €960bn. In addition, Finance Minister Michael Noonan helped to negotiate an agreement among EU finance ministers adapting rules for banking recovery and resolution.

There was no agreed mechanism to tackle the kind of banking crisis that has blighted our economy and that of other countries since 2008. But henceforth there will be agreed guidelines to ensure the overall burden is not just dumped on taxpayers again.

A pecking order has been agreed in which bank depositors will be protected up to €100,000, while bondholders will have to take the hit along with shareholders. Such procedures would certainly have protected Irish taxpayers had those been in place in 2008. The Coalition inherited that mess from its Fianna Fáil-led predecessors, but in the thorny area of tackling the community’s tobacco problems, the previous administrations can take pride in their pioneering leadership in relation to the smoking ban and restrictions on the promotion of tobacco.

Health Minister James Reilly took particular satisfaction in the Tobacco Products Directive issued by the Council of Health Ministers that he chaired. This will be a further step in protecting the health of EU citizens by overhauling the way in which tobacco products are produced and presented. Much work still remains but the difficulties faced in this country are a reminder of the problems that will have to be confronted on the continent.

Reform of the Common Agricultural Policy, agreed this week, has been broadly welcomed even by farming organisations. All seemed to conclude that the outcome was better than they had expected at the beginning of the year. The negotiations were very difficult because any agreement required a delicate balance, especially as the approval was needed of not only the member states but also the European Commission and the European Parliament.

There has also been a broad welcome for the Connecting Europe Facility, which will provide €30bn over the next seven years to enhance transport, energy, and telecoms networks across the EU, especially in isolated areas. The Government deserves commendation for an efficient job in trying circumstances.