State will get only ‘portion of €30bn’

If the Government is successful in its attempts to get a bank debt recapitalisation from the ESM, then it is likely to get only a portion of the €30bn it has requested, according to a troika source.

The Government’s efforts to get a retrospective bank recapitalisation received a boost from the influential economic and monetary affairs committee from the European Parliament.

The committee has recommended that the ESM should reimburse the Government an amount of the national debt used to bail out the banking system.