Does the Site also use google adword?
With such a high cpm and low click throughs you could end up paying €2 per click with a banner which isn't great value for money.....
I'd say most Irish sites are desperate for direct cash and would be negotiable if you put up a good argument....
If you really want to be on this site maybe suggesting a move away from cpm and would they accept a month long ad for a fixed cost as the cpm click throughs are so dire.....
If you pm me the link i'll give them a shout and see what I can wrangle off them....i've still a few extra talktime minutes to use you this month