Oireachtas Joint and Select Committees

Wednesday, 10 April 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Annual Growth Survey 2013: Discussion with European Commission Representation in Ireland

2:40 pm

Photo of Stephen DonnellyStephen Donnelly (Wicklow, Independent) | Oireachtas source

I would like to see more of it here. I agree strongly with Deputy Mathews that the single most important factor in a return of demand in Ireland is the deleveraging of private, not public, debt. The only measure set out is foreclosures. While that is good to see, it will not deleverage debt in the way that is needed here. Mr. Nagarajan spends a lot of time here and is very aware of what is going on. The split mortgage approach does not deleverage private debt. These initiatives do not all come out this year, but inevitably the Commission is thinking about them. The single greatest component is not the European Investment Bank; it is private debt deleveraging.

My last question was on equality. How is the principle of equality being factored into policy recommendations?

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