Ireland assumes EU presidency under financial bailout

Ireland is the first country under a financial bailout programme to assume the rotating presidency of the European Union (EU).

The Dublin government has already focussed its main goals for next year: “to be the first state to step out of the bailout programme managed by the EU, IMF and BCE”, and to be “a country in economic recovery to lead economic recovery in Europe”, according to Irish Foreign Affairs Minister Eamon Gilmore.

Ireland takes over the six-month rotating presidency of the Council of the European Union from January 2013 as part of the trio that will include Lithuania and Greece.

Dublin negotiated a bailout programme of €85 billion with troika at the end of 2010, to finance the country’s banking sector.

The Irish Government programme for the EU presidency perceives the country’s and Europe’s recovery as a priority, stressing fiscal responsibility, competitiveness stimuli and investment on growth and job creation as the main instruments of its term.