Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

Do you think a problem was caused by the 2003 legislation wherein page 23 of the core documents, section 5A(b) - I'll quote it, you don't' need to see it - it says that the Central Bank must "...promote the development within the State of the financial services industry (but in such a way as not to affect the objective of the Bank in contributing to the stability of the State's financial system)". Is there a big contradiction here in that the Central Bank is supposed to be attractive in foreign banks and encouraging local banks, which means making concessions for bigger profits for them, and, at the same time, supposing ... supposed to regulate them? Was that a contradiction?