Paul Connaughton (Galway East, Fine Gael) | Oireachtas source

I come form a rural part of County Galway where some small towns and villages would have a credit union and they have made the point to me that since the crisis happened they have gone from having very lax regulations to having very much over the top regulations and they have been hamstrung with monthly restrictions and all that. I imagine the board's job is to examine how it can strengthen the sector as much as possible. Their belief is that if the restrictions has not been imposed as severely in the first place, they would still be strong and would not need this. There has been very much a carrot and stick approach, on the basis that the board is here to help them-----