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Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Pearse Doherty: In terms of our EUROSTAT accountancy statistics and so on, will it be counted as Government expenditure?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Pearse Doherty: That does not apply to Ireland.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Pearse Doherty: The position in Ireland is-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Pearse Doherty: Is the Minister suggesting negotiations on the expenditure ceilings are ongoing? Otherwise, the Government will not be able to invest using the Juncker moneys given the expenditure ceilings imposed on the State.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Pearse Doherty: How could that be done?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Pearse Doherty: There are negotiations taking place. I would like to clarify the issue which we discussed a couple of weeks ago. We cannot benefit from the investment clause at this time. Therefore, unless leeway is provided, we will be restricted in this investment by the expenditure ceilings.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Pearse Doherty: Will there be white smoke tomorrow, or is this a long-term issue?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Pearse Doherty: I thank the Minister.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Pearse Doherty: I wish to make a point. When you have an issue of insolvency, what must be done is to restructure or write down the debt. The Minister has just taken one of the solutions off the table. I think the Minister should go into the meeting tomorrow with an open mind.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Pearse Doherty: I understand, but the Minister has made a write-down a red-line issue. I think that is a mistake in an insolvency situation, because the second red-line issue is whether Greece stays in the eurozone. There is a real danger that other partners in Europe could force a situation in which it is impossible for Greece to stay in the eurozone despite the commitment of its Government to stay. If...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Pearse Doherty: Ireland was the only member state in Europe that did not provide costs for each proposal. They were not assessed centrally; they were just lists coming from Departments. We acknowledge and understand this, but has there been any central assessment of the proposals?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Pearse Doherty: Are we the only country in Europe not to publish the costings? Is there no commercial sensitivity across the rest of the European Union?

Written Answers — Department of Health: Medical Card Delays (11 Feb 2015)

Pearse Doherty: 122. To ask the Minister for Health the delay in processing a medical card in respect of a person (details supplied) in County Donegal; and if he will make a statement on the matter. [6205/15]

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Pearse Doherty: In his opening statement, Professor FitzGerald stated he and his ESRI colleagues did not draw the connection between the growth of a property market bubble and the risks to the financial system and in the 2008 medium-term review, it failed to foresee the impending financial collapse. Given the ESRI’s level of expertise in the Irish economy, why does he believe the financial risks due...

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Pearse Doherty: In respect of research carried out and published by others in newspaper articles - Morgan Kelly is one who springs to mind for example - was such research simply ignored by the ESRI in its forecasts?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Pearse Doherty: Was there a lack of expertise within the ESRI in respect of financial and banking matters?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Pearse Doherty: I appreciate the funding model as Professor FitzGerald has outlined earlier. However, the organisation or the authors of its reports did go on to draw firm conclusions. For example, in the 2008 medium-term review, its authors wrote:The fundamentals of the Irish economy are sound. Even if the immediate future may prove quite difficult, the resilience of the economy is such that, if properly...

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Pearse Doherty: Let me simplify this. Does Professor FitzGerald stand by the statement of May 2008 that the fundamentals of the Irish economy were sound?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Pearse Doherty: Professor FitzGerald has told the committee the ESRI did not conduct research in areas of banking or financial institutions, yet it came to conclusions that suggested the fundamentals were sound. I assume Professor FitzGerald would suggest that a properly functioning banking system is one fundamental of the economy. Can he explain to the committee why the ESRI came to such a conclusion in...

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Pearse Doherty: Earlier on, Professor FitzGerald mentioned the ESRI publishes everything it does without censorship. In July 2000, The Irish Timesreported that changes to a draft of the medium-term review were requested by an unnamed official in the Department of Finance. These were in respect of strong criticisms made of then proposed single regulatory authority. In 2003, The Irish Timesagain reported on...

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