Oireachtas Joint and Select Committees
Thursday, 5 February 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Mr. Mario Nava:
They are two types of arbitrage. However, the implementation of the single rule book is only responsible for eliminating regulatory arbitrage. The other type of arbitrage goes back to the issue of fiscal laws. As the Deputy knows, fiscal laws in Europe have a different degree of harmonisation from banking laws. It is a completely different debate for which I do not have responsibility and which is not in my remit.
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