James Reilly (Fine Gael) | Oireachtas source

On a more serious note, what is the range of loan size given out? I suppose this applies more to the people from Sparkassen. Is the minimum €20,000, for example, and the maximum €500,000? I am not clear on that. I know Mr. Maye has alluded to it but what would be the relationship with credit unions? Would it be collaborative, complementary or competitive?

Supervision and oversight is a major point so what kind of support would come from Sparkassen in Germany in that regard? I know it has been said the bank with its branches would be an independent entity with its own balance sheet. What would be the relationship with the bank in Germany if it were successfully set up? It has already been indicated the profits would stay with the bank here, with a rule that it could be for social use. I presume that is what we would like to see happen here as in Germany.

It sounds like very good news for small and medium enterprises. I was glad to hear Mr. Boland allude to the post office. If there is an existing branch structure where people can go locally, there is an opportunity for synergy with post offices. In rural Ireland, it would be very important for people who cannot do their banking locally and who are not savvy about IT. One would imagine most people involved with business would be comfortable with it at this stage. What would be the next steps in a working Irish-German group? What legislative change would be required? It is something that will arise from negotiations with the Minister and the Central Bank.

I thank the witnesses for being here and there is certainly much value and opportunity here. We should find a way to make it happen rather than invent ways not to allow it happen.