Oireachtas Joint and Select Committees

Thursday, 25 November 2021

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Finance (European Stability Mechanism and Single Resolution Fund) Bill 2021: Committee Stage

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Going back to the issue of the rules, the Minister mentioned the Stability and Growth Pact being under review. It is very likely that these rules will change. If they did not, it would be a bit mad. The ESM has called for the debt-to-GDP ratio ceiling to be raised to 100%. Hypothetically, if that new rule were to be applied, would it automatically be reflected in these criteria or would we have to change the legislation again?

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