Peadar Tóibín (Meath West, Aontú) | Oireachtas source

I am not asking the Minister to tell any company what to do. I am asking him, as a Government Minister, to create an economic environment where companies can flourish. In this country, we have had this occurrence within the banking sector.

One of the ways in which the market structure can be improved in any environment is to increase the number of suppliers. Right now, because there is a limited number of suppliers, those suppliers have massive power. The two main banks can control the market. In a situation where they control the market, they edge out smaller competitors. How is competition to be increased? More players must be added. One option is to establish a public banking system. The credit union sector could also be helped to gain the level of management ability required to function in the sector and An Post could be given help to take on a role in that area. There are three potential additions that could be made to the market. Finally, we must look at the reasons the banks are leaving and the elements within the sector with regard to capital requirements, risk and interest rates. We must work with the European Central Bank, ECB, to resolve those issues so that the market can function here. All I am seeing at the moment is the Government shrugging and saying that it cannot do anything about it.