Éamon Ó Cuív (Galway West, Fianna Fail) | Oireachtas source

I do not want to hold up the meeting. What I see happening here is akin to what happened in the banking sector. The big banks lost a few hundred billion euro and we then introduced a whole lot of regulations for credit unions that removed their community element. We are trying to turn them into mini banks even though they did not lose any of the money about which we are talking. What went astray in credit unions was minuscule, yet we are getting rid of the community element. We are killing volunteerism and making it such a nightmare for people to operate that much of the money the Minister of State is saying we are preventing from going to waste is just going towards audit fees and so on. Therefore, I am not sure many communities would agree with the Minister of State that the measures are protecting them from whatever he is trying to protect them from.