Oireachtas Joint and Select Committees
Thursday, 7 November 2013
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Scrutiny of EU Legislative Proposals
6:20 pm
Mr. Aidan Carrigan:
The Irish banking problem was exceptional by European standards. No advance fund is ever set up to deal with systemic failures. The other additional factor since the Irish crisis is that the bank recovery and resolution directive established bail-ins and recovery procedures so there are a lot more steps to get through before one would get to a resolution being required.
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