Oireachtas Joint and Select Committees

Wednesday, 25 March 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Photo of John Paul PhelanJohn Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

My second question relates to the point made by Dr. Mercille in his statement that scholarship on sovereign debt reveals that countries that decide to cancel the repayments of their debt typically suffer only short-term economic costs. Does Dr. Mercille think that people in Argentina and Greece believe they have typically suffered only short-term economic costs?

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