Simon Harris (Wicklow, Fine Gael) | Oireachtas source

Far from annoying me, I always enjoy Senator Barrett's view and very much accept his sincerity on all of these matters. We had a chance to speak about this, and I believe the Senator will understand that regardless of my views or his, I am not in a position to accept the amendment, as Part 2 does not provide for the bank recovery and resolution measures available to Ireland. Its purpose is simply to ratify the intergovernmental agreement to enable the operationalisation of the Single Resolution Mechanism. The recovery and resolution measures are covered by the European Union (Bank Recovery and Resolution) Regulations 2015 which transpose the EU bank recovery and resolution directive, and also by the EU Single Resolution Mechanism regulation. It also would not be possible to introduce a legislative change for members of the eurozone through national legislation. I know the Senator knows this and that he feels strongly about wanting to make the point, but for the reasons I have outlined I am not in a position to accept the amendment.