Oireachtas Joint and Select Committees

Wednesday, 8 July 2015

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Quantitative Easing: Discussion

2:00 pm

Photo of Arthur SpringArthur Spring (Kerry North-West Limerick, Labour) | Oireachtas source

Dr. Kinsella referred to the fact that relative to Greece, the Irish economy had multiple engines and an ability to drive itself out of austerity. Perhaps he would expand on the reason Greece is in such a precarious position?

In addition, did Greece get a write-down, or was it the banks, to the tune of approximately €100 billion in 2012? Why has that not had the catapult effect of releasing some buoyancy in the economy as well? I do not believe anyone, across any party, wishes to see the Greeks in this situation but ultimately, in the witnesses' individual opinions, will Greece leave the euro? That is it for the present and I ask the witnesses to keep the answers brief.

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