Credit Institutions (Stabilisation) Bill will not be referred to Supreme Court

Despite the reported concerns Mick noted here, RTÉ are reporting that Irish President Mary McAleese has signed the Credit Institutions (Stabilisation) Bill into law after a three-hour meeting of the Council of State.

From the RTÉ report

The Council of State has 22 members, including the Taoiseach, the Tánaiste, two senior judges, the Ceann Comhairle of the Dáil, the Cathaoirleach of the Seanad, and the Attorney General.

Former President Mary Robinson, five former Taoisigh and two former Chief Justices are also members, as are seven people appointed by the President.

This is the seventh time that President McAleese has convened the Council of State.

The Cabinet held a regular weekly meeting at Government Buildings.

On their way into the meeting, neither Brian Lenihan nor Micheál Martin would comment on this afternoon’s meeting of the Council of State.

Mr Lenihan said the European Central Bank has not sought substantial changes to the legislation.

He said they were closely consulted about the Bill and the bank usually offers opinions on legislation.