Oireachtas Joint and Select Committees
Thursday, 4 April 2013
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Recovery and Resolution Framework for Financial lnstitutions: Discussion
4:10 pm
Sean Barrett (Independent) | Oireachtas source
I am concerned that we still have a banking system that is obsessed with property. We are talking about the lack of money for small and medium-sized enterprises. The banks have not provided that for ten or 15 years. Playing golf with builders was the life of a banker. All measures the witnesses can take to end that connection could only help the Irish economy. How do we separate the utility banks from the casino banks? It is an artificial division for the purposes of illustration. Will there be protections? Members of the public would be quite happy to see some of the casino banks go broke. What they were trying to defend was their own deposits up to €100,000, as my colleagues said. Will there be a mechanism for that?
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