Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

I thank the delegates for their explanation which has been very helpful. To follow on from where Deputy Pearse Doherty finished, the conditionality set out for accessing current recapitalisation suggests the threshold will be very high and that all other possibilities will have to be exhausted before one can access recapitalisation under the ESM and that an arguably even higher threshold will apply for retroactive recapitalisation, judging from the sounds coming from the European Union and the fact that it will be left to the discretion of the board of governors. A country must exhaust every other possibility before it will be able to apply for direct recapitalisation of its banks.