Oireachtas Joint and Select Committees

Wednesday, 3 May 2023

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Examination of EU Fiscal Rules: TASC

Photo of Rose Conway-WalshRose Conway-Walsh (Mayo, Sinn Fein)
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The vote in the Dáil is imminent.

As our guests have rightly stated, the cost of servicing the debt is the real burden. I am glad we have an opportunity to talk about that today. Does making the debt service costs the key indicator for corrective action have implications for the monetary policy within the eurozone? Would it give monetary policy an even greater role in fiscal rules, as interest rates increase via the ECB? Obviously that could have a tangible impact on whether a country is on the right side of the 3% rule on debt servicing.