The Irish Presidency of the Council of the European Union has published a press release outlining its key financial services priorities as follows:

  • Banking union – the Presidency will push for agreement on the banking union proposals and adoption of the single supervisory mechanism, which will open up the way for the European stability mechanism to directly recapitalise banks, starting in 2014.  
  • MiFID - the Presidency will focus on reaching agreement on the legislative proposals to amend MiFID;  
  • Consumer protection - Other initiatives in the consumer area, including the Mortgage Credit Directive.

Ireland took over the rotating presidency of the Council on 1 January and will host it until 30 June 2013.