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

4:40 pm

Mr. Feargal Ó Brolcháin:

There would obviously have to be a review at that time. The other point to note is that there are many other measures now in place, including the BRRD and others. The stress tests will have taken place and a great deal of work has been done on the banks in the meantime. While the possibility to which the Deputy refers is remote, in the event that the available amount was exhausted, the ESM would have to review the matter and consider whether it wanted to provide more.