Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I thank Mr. O'Connell for his presentation. I appreciate it is a difficult time for the Financial Services Union and the more than 3,000 members and staff when one includes those in the North, whose futures are not secure. In his opening statement, Mr. O'Connell said that NatWest and Ulster Bank's recent actions in this context are a humanity failure, decency failure and respect failure. It would be hard for any of us to disagree with that with regard to the way it handled this announcement and indeed the communication sent to members of staff, which clearly was not an accurate reflection of what was happening at the time.

Where do the witnesses think the best outcome lies to secure the three points they have raised with regard to staff, no compulsory redundancies and the maintenance of as many branches as possible? There is a proposal that Permanent TSB would become a third force in Irish banking. It is a small bank relative to AIB and Bank of Ireland. Does Mr. O'Connell see that or any other option as a better option to try to secure the three outcomes he has suggested? Regarding the memorandum of understanding we understand has been entered into by Ulster Bank and AIB, it is suggested there are 300 staff who would be aligned with that memorandum. Has the Financial Services Union had any engagement with Ulster Bank to confirm the number of staff who would be assigned to any portion of loans that would be sold to any other banks? Has it had confirmation from Ulster Bank that it will ensure staff transfers with all the other parcels of loans that will be broken up?