Gerald Nash (Louth, Labour) | Oireachtas source

I say this as somebody who respects the work of the Central Bank and the reforms and the improvements that have been introduced to governance in recent years. Mr. Makhlouf is painting a picture of a prospectus regulatory regime in Europe that we have been obliged to adopt here that is narrow and arguably amoral, to put it mildly, which is Jesuitical in the way that it is interpreted and applied, and which is mindful only of its basic, legalistic obligations in satisfying the regulatory framework that is in place. In a very changed world where we have a genocide happening on our doorstep, being carried out by a country which would argue that it is culturally European, and we have the biggest land war which we have seen on the Continent of Europe since the Second World War, there is a range of security risks that concern us all at the moment. Does Mr. Makhlouf think there is an argument for a change to this regulatory regime and what must be considered, in general terms, not just for the Irish Central Bank but also other central banks across the European Union which are governed by European Union rules and regulations?