asked the Minister for Industry and Commerce if the price of shares is decreasing; and, if so, if he will make a statement on the matter.
Ceisteanna—Questions. Oral Answers. - Share Prices.
48.
Irish share prices have been decreasing recently in line with international trends. These trends are generally considered to be influenced by the slowing of the rate of growth of the world economy and by the world inflationary situation. In my opinion the fall in Irish share prices reflects international share price movements and not any underlying weakness in Irish industry or commerce.
Does the Minister agree that his statement is not quite in conformity with that issued by the Central Bank?
I have not yet had an opportunity of studying the statement of the Central Bank in detail. I would reiterate that if the implications of the Deputy's question are that our economy is behaving worse than the economy of other countries during general world economic difficulty my contention is that our economy is behaving better than that of many countries in these difficulties.
Is the Minister aware that one of the main themes in the criticism in the Central Bank statement is that we have not taken proper or adequate action to control domestic inflation?
This question refers to share prices only.
The fact is coupled with the dramatic drop in the Irish stock market.
Question No. 49, please.