Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I have raised it at every opportunity I get at Eurogroup and ECOFIN meetings. We argue very strongly along with some of our smaller country colleagues that the methodology for calculating the structure of the fiscal space was flawed. It was not accurate in the estimate of where smaller, open economies were in the business cycle.

There was a committee set up to redraft the rules in that respect. Because of our arguments, our chief economist, Mr. John McCarthy is chairing that particular group in Brussels. Maybe, with the permission of the Chair, Mr. McCarthy can give the committee some insights.