Last Tuesday, MEUSAC hosted Lucinda Creighton, Ireland’s Minister of State for European Affairs, for a public dialogue focusing on economic growth in Europe in view of Ireland’s presidency of the Council of the European Union (EU). Ireland’s Presidency of the Council begins on January 1, 2013 and runs for the first half of the year. This will be the seventh time that Ireland holds the presidency since it joined the European Communities in 1973.

Addressing the Joint Committee on EU Affairs of the Irish Parliament on November 27, Minister Creighton declared that, “the central Presidency objective will be on restoring economic stability, creating the conditions for growth and, above all, prioritising job creation, particularly for our young people”, thereby echoing Irish Taoiseach (Prime Minister), Enda Kenny, who, during a joint press conference with Commission president José Manuel Barroso on October 4, stated that “stability, growth and jobs will be the priority agenda for the Irish Presidency”.

During the public dialogue, the Irish Minister for European Affairs spoke of the many changes in the EU since Ireland last held the presidency in 2004. It was during that Irish presidency that Malta joined the EU together with Cyprus and eight Eastern European countries. She also spoke of the recent award of the Nobel Peace Prize to the EU. The award, she went on to say, reminds us “of the importance of this great project”. Since 2004, apart from the changes to the inner workings of the EU as a result of the Lisbon Treaty that also addressed the democratic deficit in the EU, most importantly, the Union has been faced with the biggest economic crisis since the 1920’s.

Minister Creighton referred to the “light at the end of the tunnel” by saying that “with the right reforms and the necessary commitment, financial crises can be overcome. Economies can and do recover.” The reforms are necessary to strengthen competitiveness, to stimulate return to economic growth, to restore order to public finances and to restructure the banking systems.

In the light of the failure last week by the European Council to agree on the EU's new Multi-annual Financial Framework for 2014-2020, Ireland will take over the task from Cyprus, the current EU Council Presidency, to assist European Council Herman Van Rompuy in the negotiations. The European Council will not be discussing the MFF during its meeting next week. The issue will be carried over to next year which is why Ireland's lead will be necessary to bring negotiations on the MFF to a successful conclusion.

Next week's European Council will focus on economic policy with the Heads of State or Government expected to adopt conclusions on the future of the Economic and Monetary Union. They will be asked to assess the progress made on the Single Supervisory Mechanism and other key legislative proposals on the European Banking Authority, bank resolution, deposit guarantee schemes and the proposals on capital requirements (the CRD4 package) as well as assess progress on the priority proposals of the Single Market Act I and set further orientations as regards the Single Market Act II.

Minister Creighton did, in fact, refer to the work that will be carried out by the Irish Presidency to ensure the effective implementation of a range of governance measures through the EU’s new system of economic and budgetary coordination as well as to promote trust in other sectors, including the banking sector, that are critical to Europe’s economy.

The Presidency will also address the outstanding measures under Single Market Act I such as the Professional Qualifications Directive, secure progress on the recently launched Single Market Act II and support the focus on areas such as integrated energy, transport networks and the digital economy. Hence there is a significant convergence between what the European Council will be discussing next week and the priorities of the Irish Presidency of the Council for the first six months of 2013.

This Public Dialogue with the Irish Minister for European Affairs was the third of its kind with an EU Affairs minister this year. In April, MEUSAC hosted Egemen Bagis, Minister for EU Affairs and Chief Negotiator of the Republic of Turkey who spoke about the need for a visionary Europe in creating a common future. ‘The Financial Challenges ahead’ was the topic of a Public Dialogue with the British Minister of State with responsibility for European Affairs, David Lidington in July.

We look forward to 2013 and the challenges that the new year will bring for Malta and for the EU. The decision to reactivate MEUSAC in 2008 has paid off and I look forward to the role that MEUSAC will play in bringing the EU closer to Maltese citizens and in instilling a greater sense of ownership and pride in this ‘great project’ - the EU.

Dr Vanni Xuereb is Head, MEUSAC