Oireachtas Joint and Select Committees

Wednesday, 11 June 2025

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach

Israeli Bond Programme: Central Bank of Ireland

2:00 am

Mr. Gabriel Makhlouf:

I would hesitate, without doing a thorough review, to say it is not fit for purpose. It works. We have focused on this particular case for obvious reasons but the regulation is used by companies, corporations and businesses operating within the Single Market. It is used in Europe and has been used for quite some time. It is difficult to say that it is not working. In this particular case, I can understand why people would have certain concerns about it. As I said, the powers exist, as we saw in the case of Russia, for the European Union to take action. I cannot give the Deputy a straightforward answer.

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