Oireachtas Joint and Select Committees
Thursday, 7 July 2016
Select Committee on Finance, Public Expenditure and Reform, and Taoiseach
Single Resolution Board (Loan Facility Agreement) Bill 2016: Committee Stage
11:00 am
Paul Murphy (Dublin South West, Anti-Austerity Alliance)
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It could if the agreement was changed with the agreement of other member states. It would require the consent of all of them. The substance would not be changed compared with loan facility agreements entered into with other participating member states. The point is not that a substantial change cannot be made to this provision but that it cannot be made unless it is also made by the other member states. This could be the entry point to the facility becoming something that it is not. I agree that it is hypothetical, but there would be no requirement to revert to the Houses, as we will have given the Minister the power to perform all of the functions.