Oireachtas Joint and Select Committees
Thursday, 5 February 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Mr. Mario Nava:
No. There is a minimum level in the rules that a country cannot go below, although it can go above that level. The issue is not going below; it is going above. There has been a global movement away from giving a little guidance and giving only the principal base to a more rules-based system under which we tend to say much more of what countries could or should do. There is no issue with regard to countries going below the rules that have been set.
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