Oireachtas Joint and Select Committees

Thursday, 8 May 2014

Public Accounts Committee

2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012

12:35 pm

Photo of Shane RossShane Ross (Dublin South, Independent) | Oireachtas source

I will quote from the letter. Mr. Draghi states that the ECB decided not to release this letter for the time being, as "the protection of the public interest as regards monetary policy in the European Union and financial stability in Ireland continued to justify the confidentiality of the letter". He further states that even though several years have passed and the prospects of the Irish economy have improved considerably, risks, especially financial stability risks, are still present. It seems to me that he is at odds with what Mr. Moran is saying. He goes on to say that the situation continues to require close monitoring and notes that Ireland is under twice yearly post-programme monitoring by the troika. I am not questioning what Mr. Moran has done so far - that is another day's work - but it seems to me that after two years Mr. Moran is making a judgment of his own work and achievements, which may or may not be right, which is not necessarily shared by Mr. Draghi or others overseas. In other words, there is not necessarily financial stability and banking stability. Does Mr. Moran accept that?

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