Oireachtas Joint and Select Committees
Tuesday, 15 April 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Irish Stability Programme Update: Minister for Finance
7:25 pm
Thomas Byrne (Fianna Fail) | Oireachtas source
I thank my colleague. I welcome that this document has been published in draft form because there is a glaring omission in it regarding the potential for a deal on the bank debt to move it away from the sovereign debt. Obviously, that would have a huge impact on the future public finances if it happened and I was surprised to see that it was not down as an upside risk. It is not down under European developments and as far as I can see, it is not included in the chapter on long-term sustainability of the public finances. Has it been left out of this document because it is assumed that a deal cannot take place? Is that the basis on which the Government is operating or is it an omission the Minister might correct as it is only in draft form?
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