Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

If the Deputy's concern is about protecting the bail-in element of the agreement and ensuring the principle is not undermined, it is imperative that we protect this part of the resolution waterfall, as it is important. The Deputy argued for it because of what had happened during the crisis. The complexity of putting the SRF agreement together across the eurozone member states s hould not be underestimated, nor should the difficulty of making a substantive change to any aspect of same. We have Government oversight via the Minister should there ever be a need to make a change. The loan facility is a temporary backstop until the fund is in place, after which time the loan facility will no longer be available.