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
Richard 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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