Oireachtas Joint and Select Committees

Tuesday, 10 June 2014

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

European Commission Country Specific Recommendations: Discussion

2:10 pm

Photo of Seán KyneSeán Kyne (Galway West, Fine Gael) | Oireachtas source

I welcome the Minister and his officials. I apologise for having had to step out and hope that nothing I ask has been already covered.

The Minister said there are no great surprises and it does not seem to me that the committee or the Dáil would need to deal with the country-specific recommendations. In the legal context, are they recommendations, directives or directions? Are there penalties for non-compliance? Are they legally binding?

The Commission published its in-depth review in March, stating "the remaining macroeconomic imbalances require specific monitoring and decisive policy action". It mentions specifically private and public sector indebtedness. What concerns does the Minister have about that?

A US Senator and governor spoke last week about the status of American companies in Ireland. Does the Minister think this could have an impact on other multinationals coming into the country, which would affect foreign direct investment? Is there a mood now in the United States to prohibit this to the extent that some multinationals might no longer regard it as the correct thing to do?

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