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Managing Europe From Home: The Europeanisation of the Irish ...

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Central Bank, <strong>the</strong> Budget Council, o<strong>the</strong>r Council working parties dealing in particular<br />

with financial regulation, COREPER and bilateral dealings with <strong>the</strong> Commission.<br />

<strong>The</strong>re is an ECOFIN Council every month and a Budget Council at least twice a year.<br />

<strong>The</strong>se meetings include evaluations <strong>of</strong> national economic policy and performance<br />

within <strong>the</strong> Broad Economic Policy Guidelines and Stability Pact policy mechanisms.<br />

<strong>The</strong> Department also has extensive bilateral contact with <strong>the</strong> Commission through its<br />

central role in <strong>the</strong> management <strong>of</strong> <strong>the</strong> Community Support Framework in Ireland.<br />

<strong>The</strong> Department plays a major role in negotiations on taxation, where <strong>the</strong><br />

Department <strong>of</strong> Foreign Affairs’ involvement was minimal.<br />

<strong>The</strong> two Divisions centrally involved in EU business are <strong>the</strong> Budget and Economic<br />

Division (BED) and <strong>the</strong> Banking, Finance and International Services Division (BFID)<br />

(see figure 6). <strong>The</strong> BED deals with overall budgetary policy, economic policy and<br />

forecasting, <strong>the</strong> International Financial Services Centre and servicing EU committees<br />

on tax policy and budgetary and economic co-operation under EMU. BFID deals with<br />

banking policy and financial regulation at domestic and EU level, <strong>the</strong> Euro<br />

changeover and EU exchange rate policy. This division also handles monitoring and<br />

evaluation <strong>of</strong> <strong>the</strong> National Development Plan and Community Support Framework,<br />

<strong>the</strong> <strong>Europe</strong>an Regional Development and Cohesion Funds, regional policy, debt<br />

management policy, <strong>the</strong> EU budget and o<strong>the</strong>r international financial institutions.<br />

Within <strong>the</strong> Department, sections have autonomy and responsibility for policy in<br />

respect <strong>of</strong> issues under <strong>the</strong>ir aegis and pull toge<strong>the</strong>r when going to ECOFIN.

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