Oireachtas Joint and Select Committees
Thursday, 13 June 2013
Public Accounts Committee
Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed)
3:30 pm
Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source
Will this be incorporated into the annual report of the Central Bank? Mr. Elderfield obviously feels strongly about it. Since 2008, the financial crisis has cost the citizens of Ireland some €64 billion. Much of that money will be totally written off. I have no doubt that in society there are people who through the misfortune of losing a job have suffered the rigors of the law. That strikes me as extremely unfair. Is there a need for a combined effort? May I ask Mr. Elderfield to consider raising this in the annual report of the Central Bank? Is there a blueprint for dealing with this issue in other jurisdictions such as the United Kingdom or the USA? Often, it is not about reinventing the wheel but about looking at what has worked in other jurisdictions.
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