Oireachtas Joint and Select Committees

Wednesday, 15 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Dermot McCarthy:

Well, I think there was ... the overriding priority, Senator, was to have specificity - what was actually going to be done. That was required initially in the drafting to improve market sentiment that Ireland would be able, in fact, to achieve the targeted deficit reduction. As things evolved, it was also necessary to be specific so that the terms of the programme of assistance would be equally clear. So that was the overriding concern. So there was flexibility within that framework but there was also a strong analytical base for choosing the things which were specified in terms of structural change, both on the revenue raising and the expenditure reduction side.

Comments

No comments

Log in or join to post a public comment.