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:
Quite. The spread is huge, historically. That spread will close as we normalise. As matters normalise in the eurozone, I think it is fair to say that German bond yields will probably rise. It is a question of to what extent we fall to meet them and they rise to meet us. That is what makes the market in speculation-----