Oireachtas Joint and Select Committees
Thursday, 8 November 2012
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Forthcoming ECOFIN Council: Discussion with Minister for Finance
10:40 am
Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source
I raised the issue in the context of the Minister pointing out that 40% of our national debt relates to a banking debt the sovereign took over and which this Government inherited from the previous Administration. The Minister spoke of the knock-on effect of that on the budgetary system. I was just inquiring about the negative impact the bank debt is having on our budgetary position. We have a dead weight of banking debt which has become sovereign debt. I was seeking a flavour of-----
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