In case you thought I've been overly concerned about delays in EU countries implementing the latest Money Laundering Directives (MLD4 & MLD5), I'd just like to point out that the European Court of Justice has ordered Ireland to pay €2m to the European Commission for such delays, and Romania had to pay €3m.

Ireland had not adopted all the measures necessary to transpose MLD 4 by the deadline, and therefore had also failed to notify the European Commission of the specific measures that did the job.

As Romania was the only other offender, the Court rejected arguments that Ireland was being unfairly used by the Commission as an example to other stragglers.

Interestingly, Estonia and France supported Ireland's cause on the basis that they had also found the whole thing a bit of a struggle.

Ireland had to pay the cost of the proceedings, while Estonia and France had to bear their own costs.

Now, where are we on MLD5...?