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 have not finished yet. I have a few more questions for the Minister, but I just wanted to get clarity in order to fully understand the situation. The ESM would buy shares and sell them on, and we would get the money back. What the Minister seems to be saying, without making allegations, is that he will decide as the situation progresses whether it is better value for us, in terms of getting a better return on what we put into the banks, to sell the shares to private investors, or if we could get a better deal by applying to the ESM and seeing whether that is the best way to maximise our return.

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