John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

Let us mark it down as a difference of approach between the Central Bank and the members of the committee, certainly me.

Other members of the committee referred to it earlier but when we see this as a human tragedy, hear it explained and realise what the banks do to the people who are their customers, it is completely different from how the Central Bank treats the banks in question. Those banks treat the Central Bank as something that can be pushed around. As the witness indicated, they are forcing the Central Bank to challenge them in the context of how they understand the Central Bank's intentions of ensuring the wrong is put right. This goes back to what I said earlier. If the banks were wrong after 2013, they were wrong before it. Some mechanism must be found to ensure the banks are brought to heel. That does not seem to be working.