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

4:50 pm

Mr. Feargal Ó Brolcháin:

I would like to provide some clarification in that regard. I draw a distinction between forward-looking and retrospective recapitalisation. The detail of forward-looking direct recapitalisation is fleshed out in the guideline.

The detail of retrospective recapitalisation is not fleshed out, which would be decided on a case-by-case basis as applications were made.