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

I welcome the bail-in and so on, although it is gut-wrenching for us that Europe has now acknowledged the need for a bail-in of bondholders when we did not get one and are highly unlikely to do so. As a practical example of how all of this is working, will Mr. Ó Brolcháin tell us about the €45 billion that has been given to Spain and Cyprus? How did that process work, what conditions applied and so on?

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