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

Mr. Matthew McGann:

I will make one distinction there. This is not an increase in common debt for the EU in the same way that the recovery and resilience facility was. The EU issued debt to fund the recovery and resilience facility and it is being paid back through the EU budget. It will make those payments on the debt. It is the member states that will pay back this debt. The member states that benefit from the borrowing will pay it back and that, in turn, will pay back the EU's debt. It is not where it is being serviced from.

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