Oireachtas Joint and Select Committees
Thursday, 11 June 2015
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Fiscal Assessment Report: Irish Fiscal Advisory Council
2:00 pm
Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source
I have two quick questions.
Many people would say that cheap money from Europe contributed significantly to the reckless lending and over-lending into particular sectors that helped to crash our economy. The low interest rates that were favoured to try to move along the economy of central Europe - the core of Europe - were completely unsuitable for us. Are we seeing the same pattern emerging again, with very cheap money being produced essentially to try to lift the stagnant core of Europe off the ground? If so, it has the potential to wreak exactly the same havoc again in economies like ours. That is my first question. I will come back in with a second question.
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