Olivia Mitchell (Dublin South, Fine Gael) | Oireachtas source

I thank Mr. Aiken for his presentation. It is good to hear that he feels he is getting a positive response from the Department of Foreign Affairs and Trade. That is borne out by my own experience of dealing with our embassies. They have embraced their new trade responsibilities.

I reiterate the concerns expressed by other speakers about Britain's future in the EU. I am particularly interested in the financial services sector. Mr. Aiken said he hopes the Department and Irish business will help to assuage doubts among the British population. I am sure they will. British business will have the real job of persuading the people of Britain that EU membership is in their interests. This is particularly important in the financial services sector.

Mr. Aiken says markets hate uncertainty and no market hates it more than the money markets. London is such a driver of the British economy that it plays a role in persuading the British population to stay in the EU and to overcome that visceral antipathy mentioned by Mr. Aiken. At present, as I am sure the witnesses are aware, there are various EU proposals about tightening up on banking and bankers' bonuses, which are going down very badly in the City of London, where it is maintained this will drive banking and financial services out of London altogether - of course, if it does that, it will drive them out of Dublin also. Does Mr. Aiken think the financial services sector will play the role that is required to keep Britain in the EU if it sees the City of London itself is really threatened by proposals coming from the EU?