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

We want to get the money back, whether it is from lending to a member state or the banks, but the money will be provided by the ESM through the Single Resolution Fund. There will be strict conditionality if a member state looks for it. That could be profound, especially in the context of a memorandum of understanding, MOU. What conditions will be placed on financial institutions in terms of restructuring or doing whatever is in the public good? I do not see them anywhere in this comprehensive legislation.

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