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
5:30 pm
Mr. Feargal Ó Brolcháin:
What would have to happen is that the ESM would have to provide loans for up to its capacity of €500 million. All of that would have to be used up. In other words the borrowers would not repay any of that money, ever. That €11.145 billion is our contribution to €700 million of total subscribed capital.
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