Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

Why does he believe it is necessary to extend existing powers in the new Bill?

This liquidation is taking place in the context of a wider deal on the promissory notes which the Governor of the Central Bank, Professor Patrick Honohan, may reach tomorrow at the ECB council. What are the implications for the IBRC debts if a suitable deal is not concluded tomorrow? I ask the Minister to explain in further detail the precise implications of a failure to finalise a deal. Will he also outline what are the implications of the legislation for the overall size of the national debt? Are the costs to the State of the proposed measures identified exactly or are they subject to other conditions? Has the Minister received all the necessary clearances for the legislation from the Central Bank of Ireland and European Central Bank?

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