Oireachtas Joint and Select Committees

Thursday, 7 March 2013

Public Accounts Committee

2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions

11:10 am

Photo of Kieran O'DonnellKieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

I would have concerns in that regard. I understand how it operates. This is in no way about the individual or the Department. In terms of something that is so specific, the restructuring in the banking sector here is unprecedented. Here we have an individual who was heading up a division which was dealing with the banks and who, within a month's time, could be dealing with the same Department and officials who were reporting to him. The ordinary person looking in would question that. I understand the procedures and that it would not have been expected to occur. What can the Department do to allay the public's fear of conflicts of interest in the procedures of dealing with Bank of Ireland in future? Bank of Ireland is entering a critical phase because it is looking to return to being a private institution, which is Government policy. How can the Department give assurance to the public in that area? The Department is looking at procedures. What can the Department put in place in that area?

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