Oireachtas Joint and Select Committees
Thursday, 13 February 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Forthcoming Economic and Financial Affairs Council: Minister for Finance
10:00 am
Michael Noonan (Limerick City, Fine Gael) | Oireachtas source
The banks subject to stress testing will be Bank of Ireland, AIB and PTSB. The full mandate and exact detail for the stress testing that will be applied is not fully known. It will be very much along the lines of what was done previously, but there may be some variations. There is nothing that causes us concern at this stage.
With regard to growth levels, we built the budget on 2%. There are more optimistic growth forecasts at present and even the Central Bank is stating 2.1% for 2014 and 3.2% for 2015. The employers' organisation has mentioned 2.8% for 2014. We will not move; we will continue to work on the basis of what we forecast at budget time. We are only in the seventh week of the budgetary year and we will not vary forecasts at this stage.
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