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

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2:00 am

Mr. Matthew McGann:

It is essentially sovereign borrowing. A default on this is the same as a sovereign default, which has fairly significant consequences for any member state and its wider borrowing costs.

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