Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Has there been any discussion - even a preliminary one - of the question of whether the ESM would have any interest in acquiring equity stakes in existing banks. It is a legacy issue in the case of Ireland? There have been interventions by Finance Ministers of powerful triple A-rated countries in recent months who have poured cold water on the possibility of the ESM dealing with legacy issues. Has there been any discussion of the likelihood of the ESM having any interest in taking stakes in Irish banks? Clearly, the ESM is the only way the State will be able to recoup any of the money it has put into these banks.

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