Mark Daly (Fianna Fail) | Oireachtas source

Perhaps Mr. Cassidy could answer the question. From a competitive point of view, this is a fundamental issue for Ireland for examination by the task force. If other central banks are not only being regulatory bodies but also are actively engaging on behalf of their countries, we will not be able to attract financial services. We will be looking at this in two years' time wondering why we did not get these guys. It will be because Luxembourg was championing its banks, Germany was championing its financial services centre and the Netherlands was championing its own but our Central Bank was not doing likewise. That is not the Central Bank's fault but that is the rule in place at the moment and it is one of the regulations I am talking about that needs to be changed.