Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

The formal agenda. Perhaps it is a matter for consideration, given the fact that some issues that are not on the formal agenda might be discussed. For future reference, there might be a mechanism to have such a debate.

I will ask two questions briefly, as our time is limited. The Minister mentioned the issue of banks that were too big to fail. I have a problem with that concept, but how many banks in the EU are considered too big to fail? How many of those are in Ireland? How many trade in the IFSC? The Minister also mentioned the single resolution mechanism. Does it apply to a separate group? There are set criteria. Is the mechanism meant for a group other than those banks that are too big to fail? If banks are too big to fail, must domestic taxpayers pick up the tab? Is it only when the taxpayer fails that the single resolution mechanism for providing assistance at EU level can be used? Are we accepting in our framework the principle of a bank being too big to fail without even examining each case? The domestic taxpayer in whatever the country will be caught again. How can the Minister expect the banks to learn lessons if they will always have the safety net of the single resolution mechanism? Sometimes, it might be right to let a bank fail, even if it is big.