Oireachtas Joint and Select Committees
Thursday, 14 December 2017
Public Accounts Committee
2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation
9:00 am
David Cullinane (Waterford, Sinn Fein)
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When we had the promissory notes, that was essentially a promise that the State would burn the money periodically. Was it not that the Central Bank would literally burn money or take it out of circulation? In other words, it would take whatever the figure was at a given time out of circulation.