Seanad debates

Thursday, 4 November 2021

Finance (European Stability Mechanism and Single Resolution Fund) Bill 2021: Report and Final Stages

 

10:30 am

Photo of Alice-Mary HigginsAlice-Mary Higgins (Independent) | Oireachtas source

I will; that is fine. I think only one amendment remains after this.

Exactly as the Minister has outlined, the focus of this amendment is on the ad hocattendees. While people may not have voting rights, their presence in a room when a discussion is taking place and decision is being made is very relevant.I suggest with respect that where there are ad hoc attendees, which, as the Minister has outlined, can and does occur, they should be listed as being in attendance, regardless of whether or not they have voting rights. That would be an improvement on the current transparency structures. That is why my amendment specified "all persons attending" rather than those voting.

I thank the Minister for his assurance in relation to amendment No. 7 and the publication of the MOU. That addresses my concerns. I suspected it might and am glad it does.

Regarding amendment No. 8, unfortunately the Minister did not address my key concern. He spoke about the ESM's relationship with the European Commission and its engagement with private investors but my amendment focuses on the separation between the engagement with the European Commission and that with provide investors. My concern is not the internal relations described in (a) and (b) but the relationship between (a) and (b). How do we ensure that ESM engagement with a private investor in respect of a country, a process whose workings the Minister has described, does not overly influence the other engagement?

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