Oireachtas Joint and Select Committees

Tuesday, 6 December 2016

Committee on Budgetary Oversight

EU Directorate-General Economic and Financial Affairs: Discussion

5:00 pm

Photo of Tommy BroughanTommy Broughan (Dublin Bay North, Independent) | Oireachtas source

What, however, if that monetary policy, which may suit the Benelux and Germany best, is destroying the industrial base of Italy, the second industrial power in Europe, as Italian politicians have been saying, or destroying large tranches of Greece's economy in the process? Are the alert mechanism reports picking this up? Will those reports include Brexit and its uncertainty? It will affect Ireland more than other country and it should come into the imbalance scorecard. Other states, such as Portugal, Greece and Italy, have specific circumstances which should give them more leeway in the fiscal rules.

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