Oireachtas Joint and Select Committees
Thursday, 6 July 2017
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
ECOFIN Meeting: Minister for Finance
9:30 am
Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source
No. I do not plan to raise that because the fiscal rules indicate clearly that we need to use the sale of that asset to reduce our debt. That is due to the way the credit worthiness of our country is calculated. It does not differentiate between a share in a bank and our balance sheet and funding the Government may hold. The European bodies that calculate the credit worthiness of a country do not see our credit worthiness having changed as a result of this transaction. What they see is the composition of our balance sheet changing.
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