Oireachtas Joint and Select Committees

Thursday, 10 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Okay. I want to discuss the Government's four-year plan that you've referenced, which was published on 24 November 2010. If I can refer back to Mr. Cardiff's statement, he talks about this plan and the troika, and he says:

When the Government finally agreed the text we handed it then to the Troika; one of the IMF team was told to work through the night to produce a report [of] the Plan by the next morning. As we expected, the Troika were not dissatisfied with the Plan – in some ways it was more ambitious than they might have expected in regard to structural reform[s]. Of course there remained differences arising from differences in the economic forecasts, but the basic thrust was generally acceptable to them

Was the Government's own plan more ambitious than some of the troika would have expected?

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