Oireachtas Joint and Select Committees

Wednesday, 26 May 2021

Joint Oireachtas Committee on European Union Affairs

Comprehensive Economic and Trade Agreement: Discussion with Tánaiste and Minister for Enterprise, Trade and Employment

Photo of Mairead FarrellMairead Farrell (Galway West, Sinn Fein) | Oireachtas source

The Minister replied to me earlier in terms of internationalism. Let me be very clear: I am an internationalist. My concerns are specifically about the investor court system and the fact that companies will have access to a court that ordinary people do not have access to. It is astounding that there has been no risk analysis of the financial impact of this. The Tánaiste is saying there cannot be econometric analysis due to the many variables. Although I came late to this, I understand he is referring to the financial benefit that would be created for the country. I find it astounding that there would not be a risk analysis of the financial impact. One of the core components of behavioural finance is the concept of overconfidence bias. Does the Tánaiste believe there is potential for overconfident bias regarding the impact if there has not been a risk analysis of the financial impact?

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