Oireachtas Joint and Select Committees

Thursday, 4 May 2017

Seanad Committee on the Withdrawal of the United Kingdom from the European Union

Engagement with Central Bank of Ireland

10:30 am

Photo of Paul DalyPaul Daly (Fianna Fail) | Oireachtas source

A number of the questions I had intended to ask have been covered. My question is on similar lines to that of my colleague, Senator Mark Daly. We have not fully emerged from the major banking crisis and now Brexit has been sprung on us. Recently I used the analogy of a carpenter with the ingrown toenail who hits his thumb with the hammer. He soon forgets the ingrown toenail but it has not been cured or gone away. His focus comes on to his throbbing thumb. Is there a possibility of that scenario playing out here? While Brexit is very important and has to have a major focus, could it take all our focus away from other areas that still very much need remedial care as we have not fully turned the corner? I seek the views of the witnesses from the Central Bank, not only from its perspective but possibly whether we as a nation, have a tunnel vision on Brexit. What potential and possible fall-off could there be because of it?

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