After briefly reading the page and a link to Google and a link to a "cookie consent kit", it seems to be fairly easy to do.
Read this (and install, it seems pretty straight forward)
http://ec.europa.eu/ipg/basics/legal....htm#section_5
It should take care of most of your questions once the wizard is complete. Google's policy in a nutshell is "tell people you're using adsense cookies". They don't have any strict requirements or hoops to jump through.
https://www.google.com/about/company...nt-policy.html