Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

No, the point the Deputy made is that under direction from the Central Bank the credit union movement must limit the amount of money it invests in any one bank. That is forcing them to put their money in banks abroad, which is not to the benefit of the Irish economy. The reason the Central Bank did that was because it wanted to protect the savings of credit unions. It shared the doubts Deputy Boyd Barrett has about the banking system at a particular time because nobody wants to put millions of shareholder funds into banks that might go bust. That was the history of it.