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

The Minister can clarify this. It may not happen and it hopefully will not happen, but if it did happen, could we get access to the ESM? We were sold this so strongly. There was no reluctance on the part of the Minister during the Lisbon treaty referendum to tell us that we had that lifeline in the ESM. If a bank needs further capital - I am not mixing this up - sometime next year, do we have access to the ESM before we apply for a bail-in, or do we have to apply the bail-in procedure first?

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