Oireachtas Joint and Select Committees
Thursday, 19 June 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Fiscal Assessment Report 2014: Irish Fiscal Advisory Council
4:00 pm
Arthur Spring (Kerry North-West Limerick, Labour) | Oireachtas source
I would not say it has not done anything, but I do not get the feeling that it is doing enough.
On a second point, I was speaking to some people who would be somewhat in the know. They say that the world is awash with money trying to find a home, particularly on the bond market. I was taken aback by this and I asked why Greek and Irish bonds were so low. It was in the context of the implications for Europe after the European Parliament elections. They felt that extremism had kicked into the European Parliament in a way not seen before and although they thought there was more instability in political parameters within countries, it did not spike bonds at all because there is so much money available. Would Professor McHale agree with that? Second, if that is the case and if there is so much money looking for a home, why are we going to stick to the parameters set by the troika agreement? Is not everything open for renegotiation? Is it not the art of politics to make everything possible?
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