Belgium's caretaker government will today take over the six-month rotating EU Presidency following the Spanish stint at the helm.
Although a Belgian Cabinet is not expected to be appointed until the autumn, as the political parties are still in coalition talks, caretaker Prime Minister Yves Leterme said this situation should not impinge on the country's EU Presidency.
However, in reality it is expected to give a freer hand in captaining the EU's agenda to the full-time President of the EU Council, Herman Van Rompuy, since he is a former Belgian Prime Minister. Mr Leterme has already said that Belgium will be taking a back seat in order to give more visibility to the Council President, observing both the letter and the spirit of the new Lisbon Treaty.
For Malta, the next six months do not appear to offer any extraordinary challenges except, perhaps, for regaining the EU funds it lost after the European Commission suspended its participation in study prog-rammes due to local agency's mismanagement. Malta is hop-ing to close the matter by the end of this Presidency so that the suspension will be lifted as soon as possible.
Proposals to beef up Frontex immigration patrols will also be on Malta's political radar in Brussels as they are intended to strengthen the EU's role in guarding its southern borders against illegal immigration.
On the organisational front, Malta is set to appoint a new deputy permanent representative to the EU at Dar Malta as the current incumbent, Gozitan Theresa Cutajar, ends her diplomatic stint in Brussels.
Labour's MEP-elect Joseph Cuchieri is to take his observer seat in Brussels by December although he will not become an MEP until a new protocol to the Lisbon Treaty is ratified by all 27 member states.
Sources close to the Belgian Presidency yesterday told The Times that the next six months would be dominated by the EU's push to install financial rules and economic coordination.
"Belgium's goals include passing new rules on hedge funds, the creation of finance industry watchdogs, and an agreement on better economic cooperation across the EU," the sources said.
Talks on hedge fund rules broke down last week after months of discussion, meaning a deal is unlikely to be struck before October. However, an agreement on three new watchdogs to oversee banks, the insurance industry and financial markets is expected sooner.
The sources said that since Mr Van Rompuy was a former Belgian Prime Minister, he was expected to work closely with his country's caretaker government to ensure the Presidency's goals are met.
Mr Van Rompuy, who heads a task force of EU finance ministers re looking at overhauling some of the Union's economic policy archi-tecture, is expected to present his findings during an EU summit in October.
Belgium, a founding member of the EU, will be at the helm of the EU's agenda for the 12th time.