Oireachtas Joint and Select Committees

Thursday, 25 November 2021

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Finance (European Stability Mechanism and Single Resolution Fund) Bill 2021: Committee Stage

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I thank the Minister. As for the enhanced conditions credit line, this still provides for a MOU as opposed to a letter of intent with the other credit line. That MOU will have to detail the conditionality attached to any financial assistance facility, and the context of the MOU will have to reflect the severity of weakness that needs to be addressed. The IMF will play a role in these negotiations. Can the Minister provide any assurances, under the agreement we are dealing with now, that such MOUs will not include conditions that undermine public services and threaten economic recovery, as we have seen in previous MOUs that were applied to Ireland?

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