Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I agree with Professor McHale on that matter and I commend the council on the reports and analyses it produces. I do not always agree with the council's recommendations, particularly in light of certain factors relating to the impact that those recommendations could have on people's lives. However, there is no doubt that the council has provided a wealth of information which has informed public debate and opinion.

I stress to our guests that I intend no disrespect with my next question. Is it not the case that the council is hedging its bets? The Wright report refers to warning signals which were ignored by the Government in the past. The Fiscal Council was established on foot of recommendations relating to the economic collapse. Prior to that collapse, international organisations such as the IMF issued warnings about what might happen in the future but still endorsed the then Government's strategy. Is it not the case that the council is now complaining about what the current Administration is doing and the fact that the latter is not listening to what it is saying about the need to go further with austerity, while - simultaneously - the projections are being endorsed on each occasion? Do the members of the council - as is the tendency for most economists - have two irons in the fire in this regard, and is it not the case that they are going to be winners no matter what happens? Is it a case of the council saying "We told you so"?