Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I also pointed out, as I have stated time and again, that we need to be conscious of jobs, but I would not like the message to go out from the committee that there are 12,500 jobs up for axing if this proposal goes through. Even if every fund that had to have a buffer pulled out of the country, this fund only makes up 20% of the investment portfolio. Even in the worst case scenario, one is talking about one fifth of those jobs, and I do not see them leaving the country.

I asked a question of the Central Bank. If we did not have such a concentration of funds of this type, would we be supporting a European proposal for a 3% buffer?