Oireachtas Joint and Select Committees

Thursday, 4 July 2019

Public Accounts Committee

2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018

9:00 am

Mr. Conor O'Kelly:

The cost of our borrowings would start to rise. We are currently rated as a semi-core country against Germany. If the Italian scenario turned into a full-blown crisis, people's attitude towards many European sovereign entities would start to change. Anything that could suddenly affect the interest rate that we pay in the marketplace is a risk for us as a debt manager. That is why we are watching the bond market so closely.