Oireachtas Joint and Select Committees

Thursday, 20 December 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Role and Contribution of Public Interest Directors in Financial Institutions: Discussion

12:35 pm

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour) | Oireachtas source

My time is limited and so will the time of members of the committee. I run a very strict time regime. While the background to the appointment of Dr. Somers is very interesting, I am asking him to outline his behaviour since his appointment. What proposals did Dr. Somers put before the AIB board that would reflect matters of public interest, such as issues relating to small and medium sized enterprises getting credit, as many complaints have been made that small businesses cannot get that type of credit?

There are also issues regarding mortgage arrears, managing these arrears and debt settlements coming down the line after the enactment of the insolvency legislation. Have Dr. Somers and Mr. Spring being to the fore in raising these matters with their board at times when they might be in conflict with the other directors' interests?

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