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

5:10 pm

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

I will not keep the Minister much longer. Does he not think the €60 billion figure suggests it is not envisaged by the ESM that there will be a recapitalisation of our banks that would be any substantial portion of the amount we put in? If the Minister is talking about €60 billion for all of Europe and we put €64 billion into our banks, would that not strongly suggest they do not envisage us getting a substantial amount back, even if we decided to apply, and the Minister is saying he is not sure if we should apply, that he will look at it and so on?

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