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

I thank the Minister for outlining the transitional arrangements. He referred in his opening statement to last-resort bridge financing in the context of the Single Resolution Fund. The Minister stated, "Ireland's credit line will be an amount of €1.815 billion and represents 3.3% of the overall credit lines of participating member states". Will he clarify whether that is money we need to provide, or if the requirement is to open up a credit line which, if called upon, would make that amount available? The Minister indicated that enabling legislation will be required. Is that legislation necessary to implement in the term of the current Dáil, or what obligations do we have in that regard?