Oireachtas Joint and Select Committees

Wednesday, 25 May 2022

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Withdrawal from Irish Banking Market (Resumed): Engagement with Financial Services Union and Electric Ireland

Photo of Mick BarryMick Barry (Cork North Central, Solidarity) | Oireachtas source

The debate so far has centred around the question of whether the exit by Ulster Bank and KBC should be entirely managed and cleared by the banks themselves or whether society should impose terms and conditions on how the exit is done. There is a third way of looking at this matter, though, which is that Ulster Bank and KBC should not be allowed to leave in the first place or, if they want to leave, that is fine but their assets stay behind and are taken into public ownership and managed in the interests of the people. Do the witnesses care to comment on this idea?

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