Quite right Utfart, it doesn't say (in the FCL.008 ToR) that it will save the UK IMCR. Nor does it say it will do anything else, except "review" and "consider".
It says "...consider whether there is a need for a European rating to fly in IMC... [with sub-IR training and privileges]" and it says "...evaluate the possiblity of reducing the requirements [for IR training]".
Your reading of the ToR is correct only if they recommend a separate rating which meets the needs of a sub-IR. Those of us in the UK that use the IMCR are strongly of the opinion that the talked-of EIR rating is pointless and nowhere nearly meets the need for a sub-IR. The reason for the vitriol aimed at Jim Thorpe is that the EIR looks like an excuse to say "we've considered a sub-IR rating" without actually doing anything useful. I'm more charitable towards Jim's motives, but I consider his judgement rather flawed in this respect.