Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I disagree with the analysis put forward by the Deputy. This is a piece of legislation that seeks to protect the taxpayer and support and help countries when they are in situations of financial and economic difficulty. In the absence of the credit lines proposed here, countries could find themselves in even tougher and more difficult economic circumstances. Yes, there is conditionality there because this is other countries that are in effect making money available to countries that are in difficulty. If they are doing that, it is understandable that on behalf of their own taxpayers they would look to ensure that money is used in a way they think is fit and appropriate. That is why I believe there is a role of conditionality here. If Ireland found itself in a situation that our funding was used to support or help a country in the context of an economic crisis, Irish taxpayers would expect a role of conditionality in it.

I refer to the point raised by the Deputy regarding banks. I agree with much of what he said in that this is about how we ensure banks pay for their own difficulty and pay for cleaning up their own cost. I expect that in any situation where a bank is involved in finally receiving support from the SRF, those who have been involved in running a bank that needs support from the SRF would find themselves facing some pretty tough questions too.