"THE euro is born, and horn well," the Spanish Prime Minister, Mr Jose Maria Aznar, said at his closing press conference in Dublin Castle on Saturday, succinctly reflecting the satisfaction which his government felt at the progress made at the Council.
This was in contrast to the pessimism expressed by members of Spanish delegation on Friday morning, when it seemed that the Ecofin stalemate might not be broken. Once the crucial figures were agreed at 2.00 p.m., however, the deal was welcomed by Mr Rodrigo de Rato, Minister for Finance and a deputy prime minister, as "a very important and rigorous agreement".
The Spanish economy is well placed to meet the criteria for entry into the fast track of monetary union. Participation is a central strategy target of Mr Aznar's government. One Spanish journalist said that the Spanish ambition to stand in the front rank of EU nations is so strong, after the long years of isolation under General Franco, that the country would pay "almost any price" to do so.
Last summer, Mr Aznar rejected an approach from the Italians to form a common negotiating front on entry criteria, and on Saturday he seemed to reiterate a determination to go into the fast track ahead of his Mediterranean colleagues, if necessary. "I speak for Spain," he said at one point, "not for the countries of the south of Europe."
Spain was satisfied with the council meeting on a number of other issues, including employment, organised crime, Cuba, and anti-terrorist strategy. They put special emphasis on a proposal which seeks to eliminate the right of political asylum within the EU. This is crucial for the Spanish strategy against the Basque group ETA.
Mr Abel Matutes, the Spanish Foreign Minister, said he was happy that the French President Mr Chirac, had "totally supported the Spanish line" at the council and that no speaker had spoken directly against the Spanish proposal.
Regarding the Irish presidency in general, the Spanish would like the IGC negotiations to have advanced faster, but accept that this was due to circumstances outside Irish control.