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:
Yes. The main articles - Articles 14 to 18, inclusive - provide for precautionary lending, indirect banking recapitalisation, normal stability support loans and primary and secondary market purchases. These are the available instruments. It has been established not only to address banking issues but also sovereign problems.