Unless you're talking about really significant sums and assuming this is for non-pension savings, I think you would be better advised to choose a mix of Rabo's instant access, 30 and 90 day notice accounts (Rabo is one of the safest banks in the world and up to €100k per depositor is fully guaranteed by the Dutch government) and/or Irish State Savings Certs and Bonds.
With an EU domiciled ETF you will have to pay a fund TER, broker commissions and an exit tax on any gains of 41%. Besides which, the yield to maturity on Citi's European Government Bond Index (EGBI) (the index that most relevant funds/ETFs track) was only 0.78% at the end of September 2015, with an effective duration of over 7 years.