Oireachtas Joint and Select Committees

Wednesday, 8 October 2014

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance

European Stability Mechanism (Amendment) Bill 2014: Committee Stage

5:00 pm

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

I do. I have a question on direct recapitalisation, not just retroactive recapitalisation. I wish to translate it into simple layman’s terms that people can understand. If the Minister makes an application for recapitalisation, the deal is that the ESM would buy a share in the financial institution, and in the case of retroactive recapitalisation we would get the money back. Is it envisaged that it would retain the shareholding?

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