The first full week of Ireland's Presidency of the Council of the European Union has seen a strong focus on strengthening Europe's competitiveness, deepening the Single Market and improving access to finance for businesses. Following, we have gathered some of the developments that will be of interest to members.
Taoiseach Micheál Martin told the European Parliament on Tuesday that the Irish Presidency would work to eliminate barriers within the Single Market, reduce unnecessary regulatory burdens and make it easier for businesses to operate and grow across the EU. He also highlighted the proposed
EU Inc. initiative, intended to make it easier for businesses to establish and scale across Europe through a simpler and more integrated corporate framework.
Ireland’s Commissioner Michael McGrath also spoke about EU Inc. this week calling it “one of the main flagship measures designed to improve the overall competitiveness of the European economy.” EU Inc. is due to be finalised during Ireland’s term.
In Strasbourg on Wednesday, Minister for European Affairs Thomas Byrne signed the first legislation adopted under the Irish Presidency including new EU Digital AI rules which make it easier for businesses to comply with AI rules.
Finally, the Economic and Financial Affairs Council (ECOFIN) meets today (Friday) in Brussels, chaired for the first time by Tánaiste and Minister for Finance Simon Harris. Finance ministers are discussing the
Market Integration and Supervision Package (MISP), a key component of the EU's
Savings and Investments Union. The package aims to reduce fragmentation in European capital markets, improve cross-border investment and create a more integrated financial market across the Union. Minister Harris will also present the priorities of Ireland's EU Presidency.
Ahead of the meeting, the Tánaiste said Ireland was determined to broker agreement on the package in line with the commitments set out in the
One Europe, One Market Roadmap, with the objective of building momentum towards agreement at ECOFIN in October. The roadmap seeks to deepen the Single Market and accelerate progress on competitiveness, investment and regulatory simplification. Ireland has identified implementation of the roadmap as a key Presidency priority.
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