Oireachtas Joint and Select Committees
Thursday, 20 April 2023
Public Accounts Committee
2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed)
9:30 am
Mr. William Molloy:
Yes, the ECB undertakes a study on the payment attitudes of consumers in the euro area, SPACE, survey that goes through the use of payment instruments across each jurisdiction. There is a dispersion. While we are one euro area of 20 jurisdictions, every jurisdiction actually has its own idiosyncrasies. Some of this comes down to alternatives. In terms of digitalisation, some of these jurisdictions are quite advanced and this is because the option is there. In other jurisdictions, because of the financial and banking system, that option is not there. People then retain cash.