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

5:10 pm

Mr. Feargal Ó Brolcháin:

It is because of the accounting treatment of equity investment as opposed to lending. Under the former, the ESM would need to make provision of greater than €60 billion.