Oireachtas Joint and Select Committees
Tuesday, 3 November 2015
Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance
Finance (Miscellaneous Provisions) Bill 2015: Committee Stage
5:15 pm
Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source
In relation to the ECB, I have mentioned that there were conversations and discussions going on, but is this really monetary finance? The Central Bank would get its money back from the fund in any event and it is just a case of who has to put up with the pain until the fund reaches a point where it can pay for any outlays that have been made. The Central Bank has involved itself in some of these activities in the past through different mechanisms and the promissory note is one example. As such, how is this monetary finance? If it does not fall on the Exchequer to repay this, could not the fund directly repay the Central Bank?
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