Mark Daly (Fianna Fail) | Oireachtas source

Ms McMunn raises a question. Because of the financial crisis, the Central Bank's rules were changed so that it is not out there championing the cause of Ireland being a location for financial services investment and that has changed the bank's remit. How many other central banks in the EU have the same standard, the same rule, that they are no longer advocates and that they just process the application and that is it? This goes back to my earlier question to Mr. Cassidy. Is that making us uncompetitive? If the Central Bank of Luxembourg is out there championing Luxembourg and the Central Bank of Ireland is not championing Ireland, we had better change that rule because if we do not, we will lose out.