Oireachtas Joint and Select Committees
Wednesday, 15 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Marc MacSharry (Fianna Fail) | Oireachtas source
In your statement, you said that the European Commission and the ECB, excuse me, favoured a front-loading of adjustment within an overall adjustment of at least €15 billion by 2014. Were they specific ... to where, you know, on the fiscal plan - you said the fiscal plan was the difference, rather, that didn't include the banking side - and were they specific on where there needed to be cuts? Mr. Cowen, when in, in his own evidence in questioning, we asked him and he said that there was flexibility. Was there flexibility or was there... were they prescribing measures or were they just interested in the bottom line?
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