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:
The interest is the standard ESM rate under the pricing guideline. There is a slightly higher margin for indirect recapitalisation, as that instrument is now being called. In the case of Cyprus, the lending was stability support similar to the support provided for Ireland. It was a straightforward ESM loan to assist it-----