Oireachtas Joint and Select Committees

Wednesday, 8 July 2015

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Quantitative Easing: Discussion

2:00 pm

Dr. Stephen Kinsella:

Yes. I will give a good example. Exports as a percentage of our GDP is well over 100%. We can trade our way out of austerity. We have the structures in this country to be able to do so. Greece cannot do that. The structure of its economy does not allow for it, unfortunately. I am deeply concerned about this and have written a great deal about it. Neither side is focused on what is really necessary, namely, a restructuring of the Greek economy and a permanent interest rate holiday. Unfortunately, this is politically unpalatable. In my view, there is a failure of leadership on both sides.

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