Recapitalisation of banks ‘a live issue’

The direct recapitalisation of the Irish banks by the ESM is still a live issue and was the subject of discussion at yesterday’s meeting of European finance ministers Ecofin in Brussels which Minister Michael Noonan attended, Taoiseach Enda Kenny told the Dáil.

Mr Kenny said the question of recapitalising banks directly will only be addressed when European banking union, the Single Supervisory Mechanism, is established in the latter half of next year.