Oireachtas Joint and Select Committees
Thursday, 7 November 2013
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Scrutiny of EU Legislative Proposals
6:30 pm
Mr. Greg Dempsey:
To some extent the bank recovery and resolution, BRR, directive, is about breaking the link with the sovereign. The fact that a bank is currently owned by a sovereign should not come into account because the assumption is that no further funds will be available from the sovereign in the event of failure. From that perspective, therefore, the bank's shareholders are somewhat irrelevant in terms of their propensity to fail.
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