Brendan Howlin (Wexford, Labour) | Oireachtas source

No. The council can do separate forecasting. This is the area of the Minister for Finance, Deputy Michael Noonan, whose advisers state there are two processes that are allowed under the European treaties. Ours involves the Government, or Department of Finance in this instance, preparing an economic forecast to be validated, or not, by an independent counsel. It is permissible under the treaty for an independent forecast to be made by an independent body, and that has been done by some countries.