Oireachtas Joint and Select Committees
Thursday, 16 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Paul Gallagher:
They couldn't have taken legal action. They may have complained under, I think, it's title 8 of the treaty where each member state is obliged to contribute to financial stability, but, ultimately, they couldn't, in my view, have taken legal action. Certainly it wasn't an issue that was raised for me to advise on, but my best understanding is they couldn't have.