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
5:20 pm
Mr. Cathal Sheridan:
Yes; that would be the accepted view when looking at the extent and level of losses in banks throughout the financial crisis in recent years. That is why the BRRD was designed in that fashion. There was considerable debate about the level of the 8% figure and that was what member states agreed as an appropriate amount that would deal with the majority of cases.
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