Oireachtas Joint and Select Committees

Wednesday, 3 July 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Review of ECOFIN Matters under Irish EU Presidency: Discussion

4:15 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I am not envisaging a resolution issue either, but a recapitalisation issue. Under this instrument, the first people to take a hit before we could even get access to the ESM would be the shareholders. Is that not correct? Am I reading this wrong?

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