Oireachtas Joint and Select Committees

Thursday, 12 October 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland

9:30 am

Mr. Seamus Boland:

We have put in our submission to the Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs - I am still calling it that - and it has considered it and is producing a report. We are very happy with the way the Department has worked with us. The exchanges have been particularly intense. However, we do not know what the report is going to say. We know it has been delayed. We believe strongly that we need an indication from the Department of Finance particularly because, while the Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs has certain strengths, at the end of the day it really is the Department of Finance that will have to make its position clear. That is where we are and that determines the next steps.

As Mr. Bergmann pointed out, it would be strange if a report comes against this because, by implication, it would be criticising a model that has worked well, escaped the banking crisis and has been a major reason that the SME sector in Germany is still very strong. That is what we want to see next. After that, as I outlined earlier, we want to see the putting together of a real working group to consider the detailed proposal we have submitted.

As for the reason we chose the midlands, let us be clear that while I am from the midlands-----

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