Dr. Mark Cassidy:

If we are talking about bank regulation, large banks right across Europe are already regulated and supervised at a European level. The European Central Bank and Single Supervisory Mechanism supervises the large banks in Ireland, including the Bank of Ireland and AIB. That already exists. There is not the same level of provision of services at a European level that exists for other services. To have a complete economic, monetary and financial union, there is further room to remove barriers across the EU in a way that would be prudent. A framework exists with the Single Supervisory Mechanism and the European Central Bank but there are other parts of the banking union that will be developed in the coming years.