Oireachtas Joint and Select Committees
Tuesday, 20 June 2017
Committee on Budgetary Oversight
Irish Fiscal Advisory Council: Discussion
4:00 pm
Mr. Seamus Coffey:
Officially in the Stability and Growth pact, yes, a breach of less than 0.5% of GDP does not trigger sanctions. It is not guaranteed that a breach of more than that would trigger a sanction. We recently saw the introduction of a margin of appreciation which had us gathering around to see what that means. If there is a significant deviation, is it a margin of appreciation above a significant deviation?