logo
Farmers protest in Dublin over EU plans to merge Cap budget into single fund

Farmers protest in Dublin over EU plans to merge Cap budget into single fund

Irish Times20-05-2025

The
Irish Farmers' Association
(IFA) and the group representing co-ops held a protest in
Dublin
on Tuesday, warning against a plan to to remove the
Common Agricultural Policy
(Cap) budget in favour of a once-off funding approach to the EU budget.
Farmers and farming representatives took part in the 'flash action' at the
European Commission
offices on Tuesday morning.
The IFA and Irish Co-operative Organisation Society (ICOS) protest coincides with a flash action organised by Copa Cogeca, the largest representative union of more than 22 million European farmers in Brussels.
The protests come as the EU Commission has put forward proposals to amalgamate Cap into a single fund.
READ MORE
The move has sparked concern in the agricultural sector, which warns that their funding could be stripped back over the years as it will not be ring-fenced.
'The Cap budget has been in place since the Treaty of Rome, way back in the 1950s, and it was put in place to make sure that we would have food security across Europe, which was paramount and is still paramount today,' Alice Doyle, deputy president of the IFA, said.
'If that budget is subsumed into the main European budget, it can be pilfered at any time, to be used for any purpose.
'We want this ring-fenced, as it has always been from the very beginning, ring-fenced to support farmers across Europe and here in Ireland in particular.'
She added: 'If it is not ring-fenced, the income of farmers would be reduced dramatically, because we all depend on that direct payment coming from Europe. That's part of our basic income scheme.'
Ms Doyle also raised concern about the knock-on impact for rural Ireland because farmers are based there and 'every penny they earn is spent in rural Ireland'.
Edward Carr, a diary farmer from Tipperary, president of the ICOS and chairman of Arrabawn Co-operative, said the Cap budget is being targeted.
'The proposed changes are very concerning for the future of farmers within our country,' Mr Carr said.
'It's concerning because the Cap was brought in few years ago for us as a protection that we produce cheap food.
'It has to be taken into consideration that we are probably one of the best countries on the globe to produce sustainable food in a sustainable manner, while protecting the environment.
'I think it's just come to the stage where farmers have to stand up for themselves and protect themselves. The future of this cheap, sustainable food being produced has to be protected. It's time for Europe to pay more heed to this.' – PA

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Nine-figure payouts to Ryanair and Starbucks CEOs are controversial, but Michael O'Leary can point to results
Nine-figure payouts to Ryanair and Starbucks CEOs are controversial, but Michael O'Leary can point to results

Irish Times

timean hour ago

  • Irish Times

Nine-figure payouts to Ryanair and Starbucks CEOs are controversial, but Michael O'Leary can point to results

Michael O'Leary has hit his target. Ryanair 's share price stayed above €21 for 28 days, earning him a €125 million bonus if he stays until 2028. The deal has its critics. 'Morally questionable,' said Luke Hildyard of the High Pay Centre, a UK think tank. Others argue such payouts reward luck more than leadership, with cheap oil, index inclusion and billions in share buybacks all helping lift Ryanair's stock. O'Leary might counter that Ryanair shares have more than doubled since the deal was struck in 2019, comfortably outperforming rival airlines. Contrast that with Starbucks , where Brian Niccol was handed a reported $113 million sign-on package last August to replace embattled CEO Laxman Narasimhan. Shares soared 25 per cent on the news, adding $21 billion in market value. READ MORE [ Corporate tax receipts drop 30% as Trump's tariffs bite Opens in new window ] Since then, Starbucks has slashed head office jobs, trimmed menus and promised a return to its coffeehouse roots. But the results remain bitter. Margins and profits are down. Competition remains fierce in China. The stock tanked after last month's earnings miss and has now given up almost all of its Niccol bump. Niccol may yet prove his worth – his turnaround of Chipotle is textbook stuff – but the caffeine hit investors got from his arrival has faded fast. O'Leary, never one to miss a jab, might well look at Starbucks and say: at least I had to do something to get my millions.

FD Technologies chairwoman urges investors to back takeover
FD Technologies chairwoman urges investors to back takeover

Irish Times

timean hour ago

  • Irish Times

FD Technologies chairwoman urges investors to back takeover

FD Technologies chair Donna Troy has urged investors to back a £541.6 million (€643.04 million) sale of the Newry-based data and analytics company to US private equity firm TA Associates at a special meeting on June 30th, saying there are risks to it delivering on its full potential as a standalone public company. The company's remaining business, KX, which analyses large data sets in real time to help companies predict and respond to market conditions across the various business areas, may be hampered by 'uncertain public markets' if it needs to accelerate investment to capture opportunities in artificial intelligence (AI). 'Furthermore, FD Technologies is a relatively small player in a large, but fast-moving, fragmented market,' Ms Troy said in a letter to shareholders, contained in documents relating to the planned deal, published on the company's website on Friday. 'Competing with a number of larger, very well capitalised software providers and consequently the FD Technologies, directors are cautiously aware of execution risk to delivering its strategy and the associated value to FD Technologies shareholders.' READ MORE The deal with TA Associates, first announced a month ago, follows a big restructuring at the Dublin-listed company last year. This led to the group selling its former core First Derivatives division to US software group EPAM in a £236.1 million transaction and the spin-off of another business, called MRP , into a merger. It subsequently returned £120 million to shareholders in January through a stock buyback deal. How to manage your pension in these volatile times Listen | 37:00 FD Technologies confirmed that it has secured irrevocable commitments from shareholders behind 56.7 per cent of its stock for the TA Associates deal. It will need approval from holders of 75 per cent of its shares to get the transaction over the line through the mechanism, known as a scheme of arrangement, that TA Associates is using to execute the takeover. Shareholders are being offered the choice of taking cash for their stock or rolling their shares into the bid vehicle. 'The FD Technologies board does not give any recommendation to FD Technologies shareholders as to whether they should elect for the alternative offer [of taking shares in the bid vehicle],' the company said. 'FD Technologies shareholders should determine whether acquiring or holding rollover shares is affected by the laws or regulations of the relevant jurisdiction in which they reside and consider the advantages and disadvantages of electing for the alternative offer, and whether rollover shares are a suitable investment in light of their own personal circumstance.'

The Baltics are rapidly becoming a cauldron of EU growth when other parts of Europe are stagnating
The Baltics are rapidly becoming a cauldron of EU growth when other parts of Europe are stagnating

Irish Times

timean hour ago

  • Irish Times

The Baltics are rapidly becoming a cauldron of EU growth when other parts of Europe are stagnating

It's not every day you find yourself in the Orthodox church where Alexander Pushkin 's great-grandfather was baptised. There is something calming about these dark, ornate and often windowless churches. The great-grandfather of Pushkin – the man whom many regard as the epitome of Slavic genius – was from central Africa (modern day Cameroon), a fact that adds to Pushkin's image as a romantic outsider. His great-grandfather, captured as a child by the Ottomans and gifted to the Russian emperor, rose to the position of general in Peter the Great's all-conquering army and was baptised in an Orthodox church in the centre of Vilnius, Lithuania 's very Catholic capital city. As befits a country at the crossroads of Europe, through which Napoleon, Charles X of Sweden, Hitler's Wehrmacht and, of course, Stalin's Red Army trampled, Vilnius is a city of ghosts. Before the second World War, it was known as the Jerusalem of the North, home to 60,000 Jews, of whom fewer than 2,000 survived. Today it is the bustling capital of Lithuania, a country that was once the largest state in Europe when it was the Polish-Lithuanian commonwealth. Those halcyon days are evident in the baroque, rococo and the later neoclassical architecture beloved of the Imperial Russians. After all, if you name your top man the Tsar, a Russified version of Caesar, it's not surprising that you'd have a weakness for Roman columns. The Russians were in Lithuania for a long time and, but for a brief period of independence from 1920 to 1941 and Nazi occupation during the war, the Russification of Lithuania continued uninterrupted from 1790 until independence in 1990. Hence Pushkin senior being baptised in Vilnius, where Orthodox churches are common and, for the older generation brought up in the Soviet Union, Russian is the default language. Somehow the Lithuanian language survived; today it is thriving. Yet Russia's presence is palpable, and with the invasion of Ukraine the sense of insecurity is heightened – as it is all throughout the three Baltic Republics of Lithuania and its two northern neighbours, Latvia and Estonia . READ MORE These three small maritime countries face the sea and have been connected with western Europe for centuries. In contrast, Russia is a land power. The Hanseatic influence, tied to Lubeck, Hamburg, London and Amsterdam by the Baltic and North Seas, give the Baltic Republics their Scandinavian feel, not to mention their Catholic and Protestant religion, which distinguishes them from the Orthodox Russians. Economically, these three countries are by far the most successful of post-Soviet Republics, anchoring themselves politically, commercially and militarily to the West, via the EU and Nato . I've yet to meet a person here who doesn't see Nato as a positive. The average person appears to see Nato as an necessary insurance policy, a shield from Russian aggression that the invasion of Ukraine evidenced so dramatically. There is little sympathy for the Kremlin, even or maybe particularly in Latvia which has the largest ethnic Russian minority of the three republics. The war in Ukraine makes their orientation to the West appear – to those I have spoken to at least – all the more logical. What does this shift to western Europe mean for this region economically? There seems to be a different attitude to tech, as I observed on an airBaltic flight between Riga and Vilnius this week: Elon Musk 's Starlink internet was free to all throughout the flight. If there is a technological solution, the Baltics use it and Musk's Starlink is an obvious network. Their view is that if it is good enough for the military, it is good enough for their citizens. Over the past two decades, the standout success of the Baltics has been this embracing of technological possibilities, leading to the creation and fostering of tech companies. Ireland has become home to a significant Baltic diaspora since the early 2000s. These neighbours are not from some backward former Soviet region, but from one of the most dynamic parts of modern Europe Since the founding of Skype in Estonia nearly 20 years ago, the Baltics have been punching far above their weight in tech and entrepreneurship. Dubbed the Silicon Valley of Europe , Estonia now has 10 tech unicorns (including Wise, Bolt, Pipedrive, Playtech, Zego, Veriff and others) in a nation of just 1.3 million . Estonia alone has the highest per capita concentration of billion-dollar tech companies in Europe (and among the highest in the world). Latvia and Lithuania are also nurturing big start-ups. Latvia produced its first unicorn, Printful (print-on-demand ecommerce), in 2021, and has other notable start-ups like airBaltic (an innovation-oriented airline) and fintech platforms. Lithuania, as well as being home to the banking multinational disrupter Revolut, is now home to two unicorns: Vinted (Europe's largest online used-fashion marketplace) and Nord Security (creator of NordVPN). Vilnius has become a fintech hub (hosting the EU's second-largest fintech cluster) and a centre for laser technology and life sciences. [ ECB cuts interest rates by quarter percentage point Opens in new window ] Estonia leads Europe in startups per capita, with 1,100 per million people (4–5 times the European average), and Baltic tech founders are celebrated for their global impact. The World Bank and the OECD often cite the Baltics as models for digital innovation and ease of doing business. As of 2023, ICT contributes around 6 per cent of Estonia's GDP, up from 3 per cent in 2012, and about 7 per cent of its workforce are ICT professionals, the highest share in the EU. Latvia and Lithuania follow close behind and well above the EU average. Around half of all private R&D in Estonia and Latvia is tech-related. As a percentage of European population, the Baltics should have about 1 per cent of EU tech unicorn start-ups; instead they have 12 per cent. Meanwhile, Lithuania leads the EU in the number of fintech licences issued and has thriving tech parks in Vilnius and Kaunas. Lithuania's ICT sector grew 50 per cent in employment over the past decade. They are not only deploying tech to create new companies, the way the government does business here is quite seamless because of mass digitalisation. The problems caused by one Irish hospital not having the medical details of a patient who is being treated in another Irish hospital would never happen here; the entire public sector is paperless. Every government computer speaks to every other one, and to your own laptop. The result of this world-leading e-governance ecosystem is that Estonians can start a company online in minutes and 99 per cent of government services are accessible from home. No queues, no forms, no 'missing in the post' appointments, because one ID card has all the information in one place. Consequently the cost of government bureaucracy has collapsed. This is the future. And yet the region is still captured by the past, most notably the threat of Moscow. [ What does the latest ECB cut mean for borrowers, savers and the broader economy? Opens in new window ] Ireland has become home to a significant Baltic diaspora since the early 2000s, with people from Estonia, Latvia and Lithuania now making up roughly 1 per cent of the population (based on the 2022 census and a population of 5.15 million). These neighbours are not from some backward former Soviet region, but from one of the most dynamic parts of modern Europe, the Baltic Sea, home to Poland, Europe's most vibrant large economy, Finland and of course Sweden, as well as the industrial north of Germany. Ireland should learn to use the skills, networks and languages of our new residents to cement relations with this part of the world because this is rapidly becoming a cauldron of EU growth at a time when other parts of Europe are stagnating.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store