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
We are looking for solutions to problems. This comes back to the task force. What has been highlighted here is that we have changed our rules regarding the Central Bank promoting Ireland as a location for financial services. If that does not change - and obviously, other European countries have not changed - we need to find out who they are and whether we are going to change it. If we are not, we are at nothing. I agree with Dr. Fagan that other State agencies are out there championing the cause but if other central banks in Luxembourg and elsewhere are championing their financial services centres and the Irish Central Bank is not allowed to do likewise, it needs to go to Government and say the reason we are not going to get them is because we are hamstrung.
If this does not change, we will be back here in two years time saying, "I wonder why we didn't get those?"
No comments