Oireachtas Joint and Select Committees
Wednesday, 6 March 2019
Joint Oireachtas Committee on Rural and Community Development
Banking Legislation: Discussion
Éamon Ó Cuív (Galway West, Fianna Fail) | Oireachtas source
I would dispute that. I had this argument before with various Ministers for Finance about the idea of saying that everything is a liability. The Central Bank, which is not represented today, used to have a habit, although I do not know if it still does, of writing off non-returned currency that could theoretically exist somewhere and be claimed. Every now and then, there would be a windfall on the Government balance sheet after the Central Bank said that a certain number of notes and coins had gone missing which would probably never turn up.
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