Oireachtas Joint and Select Committees

Wednesday, 18 February 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Dr. Donal Donovan:

Yes, there is, in the sense that decisions on lending ,which are key decisions, require approval of 51% of the votes. The IMF does not take votes explicitly. It very rarely takes votes where people put their hand up. In the sense of a discussion and discussions on difficult cases, most of the representatives of member countries would speak. The secretary of the board has a pretty good idea of the voting capacity of each chair.