Oireachtas Joint and Select Committees

Thursday, 5 October 2017

Public Accounts Committee

IDA - Financial Statement 2016

9:00 am

Mr. Martin Shanahan:

It is not minuscule money. That is why the Commission's infringement procedures are so puzzling. This is an unusual amount, much higher than in any previous decision the Commission has made and, therefore, one might have thought the Commission would have understood that it would take time to set up the appropriate framework to recoup this money.

That is the first important thing. It is difficult to see how the overall case will work out. It is now to be considered by the General Court of the European Union and we will have to await the outcome. I am not going to pre-empt that. In respect of the infringement proceedings, I understand it is a two-stage process. We are making significant progress in setting up the appropriate framework. I suspect events may overtake us.

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