Michael McGrath (Cork South Central, Fianna Fail)
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To put this issue in the context of the Government's objective to use the European Stability Mechanism to deal with the legacy issue of the pillar banks and Permanent TSB, what are the remaining steps that have to be agreed? The Minister stated agreement has been reached on the single supervisory mechanism and the focus has shifted to the common resolution regime and some other issues which need to be resolved. When will we reach the point where, irrespective of legacy issues, the ESM will be in a position to recapitalise banks? Once we reach that point, Ireland's case on the legacy issue of the pillar banks and Permanent TSB could be discussed.