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 European stability mechanism is still there as an ultimate aid to member states. After one has bailed in the 8%, one has taken the further 5% from the fund, one has reverted and bailed in everything else that is capable of being bailed in, one has called on the member state in that area to assist and the member state has claimed it cannot assist, there is provision for the European stability mechanism to step in at that stage and provide further sources.

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