Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I appreciate that. I also appreciate the clarification on credit unions investing in State-guaranteed funds and the Minister’s assessment of the misinterpretation. However, the problem is that responsibility lies with the Central Bank. I do not understand why we would not explicitly, as the credit union movement want, write it into the Bill that there is one type of investment that credit unions may invest in. I do not say “shall”, “will” or “are compelled to” invest in, especially given the circumstances in which the Minister finds himself. He knows it better than most that it is difficult to get institutions to invest in projects in this country and the State does not have the money itself for projects. I would like to push the issue but if the Minister is open to looking at it then I will not do so.