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 Irish position in the negotiation of this was that an intergovernmental agreement was not necessary. The European Commission was very strongly of the view that this could be accommodated within the treaties. However, a number of member states had serious concerns and were concerned that there would be a legal challenge. The very purpose of the intergovernmental agreement is to make this watertight and to protect against a legal challenge which was a concern of certain member states. It is most unlikely that it will increase the risk of legal challenge.

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