Oireachtas Joint and Select Committees

Wednesday, 8 May 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Forthcoming ECOFIN Council: Discussion with Minister for Finance

6:10 pm

Photo of Peter MathewsPeter Mathews (Dublin South, Fine Gael)
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In the case of the deposits of €100,000 across the eurozone, the pari passu situation that obtained legally in Ireland could have been set aside just as the deposits above €100,000 were set aside in Cyprus. It was an act of financial cowardice that the scale of the problem was not dealt with. Deputy Boyd Barrett is correct. The retrospective understanding or admission that Irish people have been put into the breach for the saving of the euro system means that the euro system - rather than the ESM or any of the other funds - on a singularly unique case, could take a hit-----