Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Yes, thanks Chair. Mr. Buti, the end of June 2012 summit agreement statement, which provided for breaking the vicious circle between the banks and the sovereigns, and it opened up the prospect of direct recapitalisation through the ESM - and that facility is now up and running, as I understand it - that was heralded in Ireland at the time as a major breakthrough and as the forum through which Ireland would get a deal on retroactive bank recapitalisation. Where stands that today?