Oireachtas Joint and Select Committees

Thursday, 6 July 2017

Public Accounts Committee

2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015

9:00 am

Mr. Derek Moran:

We have been doing that from the start of this process. FDI is generally positive about the approach of the State with its dealings with the Commission and on this matter. That is an ongoing process.

Technically, the bigger issue will be that in the year that it might happen, all of sudden all of this money will come on the balance sheet, will displace any borrowing plans the NTMA, National Treasury Management Agency, might have, and there is an absorption issue. However, that is far down the road. Some of these cases have been going for decades.