Oireachtas Joint and Select Committees

Thursday, 23 September 2021

Committee on Budgetary Oversight

Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance

Photo of Neasa HouriganNeasa Hourigan (Dublin Central, Green Party) | Oireachtas source

I will have a second round and give anybody who wants to come in four minutes. I have two questions. I am sorry if I start with something that is relatively obscure. I want to ask the Minister about the Evergrande debt crisis. For those unaware of it, Evergrande is the second largest real estate company in China and it now has a debt of approximately $305 billion. Both Fitch and Moody's ratings firms have signalled that a default is likely, if not inevitable, and may lead to some global instability. Are the Department and Minister monitoring that situation? Are they aware of any specific exposures that Ireland faces? Are they concerned about a situation where we do not face specific exposure but since we live in a global environment, we might be exposed to a global domino effect in the banking community?

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