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

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5:10 pm

Mr. Feargal Ó Brolcháin:

The lending to Spain was for what is called an indirect recapitalisation instrument, which is provided for in the treaty as it stands. Essentially, it was a loan to Spain to provide recapitalisation for its banks. In the case of Cyprus-----

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