Oireachtas Joint and Select Committees

Thursday, 24 January 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Economy and Funding Requirements: Discussion with NTMA

3:45 pm

Mr. John Corrigan:

As I mentioned in my opening remarks, the debt which is projected to max at 120% or 121% of GDP is a very big debt burden. The fact that it is so big causes problems in accessing the capital markets or in borrowing and clearly affects the spread, namely, the difference between Irish and German rates. The view of the troika is that it is sustainable based on certain assumptions. Sustainability means that it will peak in the foreseeable future at a known date, which is this year, and will decline thereafter.

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