Gerald Nash (Louth, Labour) | Oireachtas source

I concur with what my colleagues have said. This has been an absolutely devastating period for Ulster Bank staff, who have had the sword of Damocles hanging over their heads for many months. It is quite frankly outrageous that staff had to learn of their fate and that their jobs were at risk of coming under threat from media reports. I notice that Ulster Bank's own statement, which it will make later on and a draft of which we have seen, makes reference to media speculation last September. It is clear that somebody must have been briefing the media for the story to have appeared about the future of Ulster Bank and consideration of its operations in this country. Ulster Bank has to take responsibility for that. I am absolutely amazed that staff are expected to accept the notion that a decision on the future of Ulster Bank had not been taken until last Thursday and early Friday morning. As my wife would say, I am not the most organised person in the world but even I try to organise what I might wear the following day the day before. Nobody should be expected to accept the notion that a major bank of this scale would make a decision of this magnitude literally overnight.

I will ask a couple of questions, if I may. The first relates to the conduct of the Central Bank. Will Mr. O'Connell elaborate on any contact he may have had with the Central Bank regarding any advice and support the FSU might have tried to obtain with regard to contact between Ulster Bank and the Central Bank on the Central Bank's consideration of Ulster Bank's next steps in advance of the announcement made last Friday?

I welcome the FSU's commitment to the concept of a banking forum. Would it agree that this should operate along the lines of the retail consultation forum established by Government in 2014, in which I had some involvement myself? Would it agree that it will be important to include not only bankers and experts, but also experts drawn from the workforce in banks across the State, who could contribute enormously to the future banking landscape of this country?