Oireachtas Joint and Select Committees

Wednesday, 24 September 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

General Scheme of European Stability Mechanism (Amendment) Bill 2014: Discussion

4:30 pm

Mr. Feargal Ó Brolcháin:

Article 14 of the draft guideline provides that there may be retrospective recapitalisation, to be decided on a case-by-case basis by the board of governors. The modalities for such implementation would be decided at the time. That is what the draft guideline states about retrospective recapitalisation. The provision is included and no further detail is available.