Dáil Éireann Debate, Tuesday - 21 May 2013
88. Deputy Dara Calleary asked the Minister for Finance his views on whether EU wide growth would be enhanced by a looser fiscal policy being adopted by those Eurozone countries with capacity to increase spending; and if he will make a statement on the matter. [23911/13]
View answerSound, sustainable public finances are a pre-requisite for confidence and stability and hence for economic growth. Given relatively large deficits and the associated increase in public debt in many EU Member States in recent years, there is agreement among Finance Ministers that fiscal adjustment is necessary. There is also agreement, however, that consolidation should be pursued in a growth-friendly manner and that the speed and scale of consolidation should be differentiated across Member States according to their different needs.
My view is that this approach of differentiated, growth-friendly consolidation is the most appropriate way of supporting EU-wide growth while at the same time putting the public finances of the Member States on a more sustainable basis.
