Oireachtas Joint and Select Committees

Wednesday, 26 March 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Draft Heads of Central Bank Bill 2014: Department of Finance

3:45 pm

Mr. Feargal Ó Brolcháin:

This issue was addressed when other legislation relating to this package of measures was in the Dáil early last year. The position outlined at the time was that these measures were considered applicable to Greece. Ireland, as a country heading to the exit of its programme, had different requirements and we would seek measures appropriate to Ireland. As I noted, all the measures provided for Greece come with conditionality attached. We have exited our programme and its specific conditionality. Other measures were provided to us, including extension of maturities of the European Financial Stability Facility and ESM loans, as well as the arrangement for the promissory notes, both of which are very important to Ireland.

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