Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

The single resolution mechanism is being put on the agenda. We were notified of it rather late and we think it will go late into the evening on Friday because it is one of the crucial policy aspects that must be discussed. It runs from, and underpins, banking union. The issues that arise include the scope and whether it will apply to important banks or all banks. The Irish position is that it should apply to all banks because we have seen that quite small banks have caused systemic problems across European Union, which has led to a fear of contagion. It is not necessarily big banks that are troublesome.