Oireachtas Joint and Select Committees

Wednesday, 15 October 2025

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach

Scrutiny of EU Legislative Proposals

2:00 am

Photo of Shay BrennanShay Brennan (Dublin Rathdown, Fianna Fail)

An example might help to get it across. If you spend €100 million on your military and you borrow within your economy anyway for other reasons, given you are doing it anyway, could you now put the €100 million you are spending on the military under the SAFE instrument and borrow that €100 million from the EU at a lower rate to reduce borrowing elsewhere that you were going to spend in the domestic economy at the higher rate because of your sovereign rating?

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