Oireachtas Joint and Select Committees

Wednesday, 8 May 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Forthcoming ECOFIN Council: Discussion with Minister for Finance

6:10 pm

Photo of Stephen DonnellyStephen Donnelly (Wicklow, Independent) | Oireachtas source

My understanding is that we will be on the hook for about 1% of €11.2 billion, €110 million approximately. Is that €110 million already included in the 2013 Estimates or will it be an additional item? My second question is to pick up on the financial transactions tax, FTT. Has an impact analysis - a cost-benefit analysis - been carried out? If so, is the Minister in a position to release that information to the committee? As part of the single resolution mechanism, the Commission will undertake a Europe-wide asset valuation of all the banks, essentially another stress test. Will we do one first? If so, when will we know if the banks need any extra money? We have the €100,000 deposit guarantee scheme in place. Is the plan for Ireland that this will be a funded or an unfunded scheme?

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