Noel Treacy (Galway East, Fianna Fail)

The banks have a duty and the Bill proposes that banks must be responsible. We are fortunate to be in the eurozone at this time. If we had to protect our banks with only our own little punt currency, how could we stand against the ravages of the international marketplace? The European Central Bank has a key role to play because we are part of that system, we are in the eurozone and we have the Stability and Growth Pact to protect our borrowing requirements within that eurozone. Over the years, the Government put together one of the most robust regulatory systems, including the Irish Financial Services Regulatory Authority, to put structures in position——

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