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

That is a pretty small amount, which is just over 10% of its lending capacity. With such a small amount available throughout the whole of Europe for direct recapitalisation and a pretty high threshold being exacted for current recapitalisation in the legislation, our chances of getting retroactive recapitalisation are zero to nil, given the size of the pot available and the thresholds applied to current recapitalisation. There is nothing to give much hope we will get anything in terms of retroactive recapitalisation. Is this a reasonable reading of what we have in front of us? To put it another way and to use colloquial language, it does not state retroactive recapitalisation would be considered sympathetically for countries which have been beggared as a result of their requirement to bail out their banks and have had a really hard time - obviously, it would be phrased differently. It has very high thresholds for current recapitalisation and very little money available and something about a board of governors considering it on a case by case basis. It does not look very hopeful.