Finance (European Stability Mechanism and Single Resolution Fund) Bill 2021: Committee Stage
Seanad Éireann — 2021-10-21
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Paul Gavan (SF), Labour Panel

This amendment seeks "a report setting out...measures...[for] appropriate safeguards and separation between ESM cooperation [and] the EU Commission on any area of policy and ESM engagement with private investors." On Second Stage, my colleague, Senator Higgins, outlined how it is unclear what the firewalls will be regarding engagement with private investors in terms of the ESM. I would be concerned if, on the one hand, the Minister is seeking to play an active role within the European Commission in the implementation of its policy functions - there is a policy ambition that is concerning in this refrain - and, on the other hand, there are plans to segue in respect of private investors. How will we firewall these two parts of the process? How will we be clear on what exactly the Commission is doing in comparison with what the ESM is doing?

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/seanad/2021-10-21/debate/main
Retrieved: 2026-08-14T04:49:44+00:00
Sitting date: 2021-10-21