Thomas Pringle (Donegal South West, Independent)

The question about whether we have a referendum on the ESM will be decided by the courts, and I hope to see the Taoiseach down there. My question related to the substance of the treaty itself and its provisions. Article 15 provides that the ESM may decide to grant loans for the specific purpose of recapitalisation of the financial institutions of an ESM member state. To clarify, those loans are provided to the member state to give to the banks and there is no question of the ESM recapitalising banks directly. Does the Taoiseach consider this a good deal for the taxpayers of this country and across Europe?

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