Oireachtas Joint and Select Committees
Wednesday, 18 June 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Forthcoming ECOFIN Council: Minister for Finance
4:35 pm
Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source
Not only will the Minister not answer in the Dáil, he will still not answer the question I have asked him for the third time. I put it again.
Given that the rules of the direct recapitalisation instrument, which include, in the first instance, bringing the banks up to a core tier 1 capital ratio of 4.5%, in the second instance, a bailout, and in the third instance, applying to the ESM, are so restrictive, would it be in the best interests of the State to sell the shares of those two banks on the open market? For the third time, I believe that is a reasonable question to ask. Does the Minister have an opinion on that?
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