Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

Mr. Nava's submission states that “the Single Supervision Mechanism was created with a view to breaking the link between banks and sovereigns” so that effectively the taxpayer would not be on the hook. In what circumstances will the conditions be such - in an Irish context - that Europe can provide money to purchase shares in banks that the Irish Government has already recapitalised and put money into? Under what conditions will the European Stability Mechanism, ESM, step in and purchase the shares that the Irish Government had to purchase to put money in the Irish banks on behalf of the taxpayer?