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
10:40 am
Mark Daly (Fianna Fail) | Oireachtas source
I am not saying that. We have changed our standards. That is the financial crisis and post-traumatic stress disorder I am talking about. We changed our standards because the Central Bank was out there looking for business. This is a hangover from the financial crisis that will now affect our performance. I suggest that the task force should have answered the question when it was examining the opportunities of Brexit. Was this one of the things it examined? I am not talking about the standards; I am talking about the basic rule of central banks in other jurisdictions. Are they out championing their financial services? We do not know and we need to find out. They are out championing their causes for their financial services sector and we are not allowed to do so for ours. If that is the case, we need to find out and we need to change our rules.
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