Oireachtas Joint and Select Committees
Wednesday, 26 March 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Draft Heads of Central Bank Bill 2014: Department of Finance
3:45 pm
Mr. Feargal Ó Brolcháin:
It was part of a package arranged for Greece. There were a number of measures involved, including deferral of interest payments, reduction of interest, elimination of margin and so on. These were outlined in a Dáil debate on the legislation for the interest rate reduction in early 2013 but I can outline them again. They were specific to Greece. The disbursement is subject to conditionality, so certain conditions must be met in order for Greece to receive the additional funding.