Oireachtas Joint and Select Committees

Thursday, 15 July 2021

Committee on Budgetary Oversight

Summer Economic Statement: Minister for Finance and Minister for Public Expenditure and Reform

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
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I thank the Deputy for reminding me of that. The agreement contains review clauses and there are review clauses for some aspects of the agreements. However, if a country is in that agreement then it is reasonable to expect that it will be at whatever rate is agreed until well into the medium term and for many years. As the agreement is drafted, there is no exit clause that allows a country to opt into the agreement and then exit it. The expectation is that if a country is in the agreement it is in. While there are some review elements in it, it is important to be open and clear with the committee. The expectation of countries is that if they are in the agreement they are going to stay in it.