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.