Oireachtas Joint and Select Committees

Wednesday, 25 March 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Photo of John Paul PhelanJohn Paul Phelan (Carlow-Kilkenny, Fine Gael)
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I welcome Dr. Mercille to the meeting. I have a couple of questions for him arising out of his statement in which he criticises very strongly the Irish media for its opposition to default on sovereign debt. What in Dr. Mercille's view are the immediate consequences for a country that defaults on its national debt?