Dáil debates

Wednesday, 19 May 2010

Euro Area Loan Facility Bill 2010: Committee and Remaining Stages

 

6:00 pm

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)

There has been a very intensive engagement between Greece and the European Central Bank and European Commission, respectively, in recent months. Finance Ministers have heard the reports of this intensive engagement, which has surveyed not only the balance sheet issues, if one likes, of the sums involved but also the structural defects in the Greek economy. The conditions laid down for Greece include specific conditions on the country's structural problems. The first and most fundamental structural defect which led to all the difficulties was the compilation of inaccurate statistical information by Greece. That matter is often treated as something false and unfortunate that happened whereas it betokened a far deeper malaise within the Greek administration. Structural reform of the public administration in Greece is essential for the implementation.

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