The statement is here.
The government’s statement is here and specifies some changes to the MOU:
There were a number of changes agreed to the Memorandum of Understanding, which include:
- As already set out by Minister Noonan: “Initial resolution funding for Credit Unions of €250 million will be made available from the Exchequer in quarter 4 2011″ – which will be based on a principle of recoupment over the medium term via a levy under the Central Bank and Credit Institutions (Resolution)(No.2) Bill 2011 (when enacted).
Credit union legislation to be published by quarter 2 2012. The fiscal responsibility bill to be published by quarter 1 2012.