Oireachtas Joint and Select Committees
Thursday, 22 November 2012
Public Accounts Committee
2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 4 - National Pensions Reserve Fund
Chapter 25 - Accounts of the National Treasury Management Agency
National Treasury Management Agency - Financial Statements 2011
National Pensions Reserve Fund Commission - Financial Statements 2011
12:00 pm
Mr. John Corrigan:
If these were to be disposed of. As a postscript to that comment, under the EUROSTAT rules the debt-to-GDP ratio is measured on a gross basis. They do not give us any credit in those measurements for the assets we hold on the other side of the balance sheet. As I have described, if and when the banks get traction on their businesses, the market - whatever about the statisticians in EUROSTAT - would increasingly give credit in its assessment of Ireland for the embedded value of those shares, even though they are not reflected in the formal debt statistics as reported.