Oireachtas Joint and Select Committees
Thursday, 9 March 2017
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Scrutiny of EU Legislative Proposals
9:45 am
Mr. Gerry Cross:
The import of my statement was not to suggest that but that, before the crisis, there was not a global sophisticated framework to allow the resolution of banks which have critical functions in a way that minimised the risks and costs to taxpayers and member states. It was global problem, a European problem and an Irish problem. While the frameworks differ globally many of the same principles, driven by the FSB, are in place.
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