Seanad debates

Wednesday, 26 March 2003

Finance Bill 2003 [ Certified Money Bill ] : Committee and Remaining Stages.

 

As already stated, the terms of the pact are restrictive. Belgium has a debt ratio of approximately 100%, Italy 109% and Ireland 34%. Belgium has a high debt ratio, while Ireland has a low debt ratio. When we joined the euro everyone was supposed to reach a level of 60%, which seems to have been forgotten. I am willing to accept that there should be a matrix of different rules for smaller and larger countries. I do not want the Irish economy to be compared to its German counterpart. We have a population of 4 million, while Germany has a population of approximately 80 million. They have a very good road and railway network, therefore, it appears stupid to compare this country to Germany.

Comments

No comments

Log in or join to post a public comment.