Oireachtas Joint and Select Committees

Wednesday, 9 March 2022

Committee on Budgetary Oversight

Pre-Stability Programme Update Scrutiny: Economic and Social Research Institute

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

I am mindful we scheduled the meeting with the ESRI before the Russian crisis and Ukraine war truly began. Inevitably, the conversation has moved that way and I apologise for that. It is something that is out of our control. Deputy Healy-Rae had it right when he said it is very difficult to talk about anything else at the moment because what we are seeing on screens and on our desks is so appalling. I also have questions on other matters but I wish to start there. Given that Deputies Canney, Healy-Rae and O'Donnell have contributed, it is no surprise there has been a great deal of discussion of the particular vulnerability of the agriculture sector and the impacts of energy, but I am also noticing a discussion in respect of whether Russia might default and in terms of the financial markets. What is Ireland's exposure to that or the knock-on effects, for example, in other markets where Russia might be particularly influential?

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