Oireachtas Joint and Select Committees
Thursday, 7 July 2016
Select Committee on Finance, Public Expenditure and Reform, and Taoiseach
Single Resolution Board (Loan Facility Agreement) Bill 2016: Committee Stage
11:00 am
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
Does the Minister of State understand the concern we have about this? Setting aside the fact the quantum of money cannot increase, with the agreement of the European partners who are signed up to the agreement the terms can change. They could change substantially with agreement at a meeting in Brussels or Frankfurt. All of the agreement upon which the legislation hinges could be altered dramatically. The quantum of money we are making available in respect of the backstop cannot be changed or increased, particularly in view of the Minister of State's earlier undertakings, but the agreement which underpins it could be changed by consent of all the other parties. It is a concern that the Oireachtas is being asked to make available €1.8 billion on the basis of an agreement that can change without any approval of the Parliament.
No comments