Oireachtas Joint and Select Committees

Wednesday, 10 June 2015

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Single Resolution Fund Bill: Discussion

2:00 pm

Mr. Aidan Carrigan:

The eight-year provision was part of what Senator Hayden referred to. Some member states were concerned that there were pent-up problems in other member states. They did not want to immediately inherit all of the bad practices that had been there. The concept of mutualisation was developed to allow a gradual taking of responsibility for the broader European Union.

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