Oireachtas Joint and Select Committees

Wednesday, 24 September 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

General Scheme of European Stability Mechanism (Amendment) Bill 2014: Discussion

5:10 pm

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

Given the approach of just over 10% of the fund being available for direct recapitalisation, the thinking is that the states and the taxpayer will need to pick up the bill in the event of a serious crisis. Mr. Ó Brolcháin mentioned that the 10% figure might be varied, but this is indicative of the thinking involved.

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