Mr. Seamus Boland:

We put forward a solution. I can reiterate many times what I have already stated here and in other places. There is a problem and it has come about because of the demise of ACC and ICC. They worked hand in hand with credit unions and other banking systems. To be honest, most rural businesses, especially those of farmers, would not exist were it not for ACC. I remember benefiting hugely because it was the only institution that would lend.

We are not talking about a model that will damage the credit unions. It should not damage them, the post offices or anyone else.

What the report states very clearly - the terms of reference in this regard are being worked through at the moment - is that we have got to figure out how to create an alternative banking model. That may well involve the credit unions. Senator Kieran O'Donnell asked some probing questions in terms of identifying the obstacles. Right now, the position is not very good. The banks' situation is very clear as far as we are concerned. Members of Irish Rural Link are still being refused loans. People are still not getting the access to loans and facilities. If those in this room can come up with a better model than Sparkasse, Irish Rural Link will be quite happy. We are not a vested interest and are not going to gain anything out of what might happen. We are simply saying that if we do not, under the terms of reference set out by the Department of Finance, explore the next step, we will be running away from the problem.