Dáil debates

Wednesday, 6 February 2013

Irish Bank Resolution Corporation Bill 2013: Second Stage

 

9:55 pm

Photo of Shane RossShane Ross (Dublin South, Independent) | Oireachtas source

What I do know, and what I do not like about the Bill, is section 17 which hints at what we are going to get from the Minister. This is the objectionable part. It gives such wide-ranging powers to the Minister that he can introduce and issue securities for as much as 100 years, so far as I can see, although the ECB will not allow him to go that long. The Bill gives the Minister powers we cannot accept.

I cannot vote in a vacuum for a Bill that does not tell us what will be swapped for the promissory notes.

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