Vol. 397 No. 1
37 Mr. Spring asked the Minister for Finance if the Government have considered the implications for the Programme for National Recovery if domestic inflation and interest rates rise as a result of the present proposals for German monetary union; and if he proposes to consult with the social partners on the issue; and if he will make a statement on the matter.
I refer the Deputy to the reply I gave to a question by Deputy Rabbitte on 20 February (Official Report, columns 2287, 2288, volume 395) in which I stated that "...until the economic and monetary conditions under which the two German states may come together become clearer, it is not possible to reach any firm conclusions as to how they may affect our economy". Accordingly, I think that it is premature and unhelpful at this stage to speculate on the impact of some hypothetical developments on the Programme for National Recovery when the outlook is so uncertain.
As the Deputy is aware, mechanisms exist to provide for discussions between the parties to the programme on all matters affecting it.
