Oireachtas Joint and Select Committees

Wednesday, 19 December 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB

4:30 pm

Photo of Stephen DonnellyStephen Donnelly (Wicklow, Independent)
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It does not seem that the witness, wearing his public interest director hat, is doing that. In consulting, in which I spent several years, there is a phrase used and whenever we sent a team to a client we were always afraid that they would go native and by that I mean that they would forget what their job was and would become part of the client they had gone into see. I say this with the greatest respect for both of witnesses' long careers of public service, but in my opinion, based on what I have heard, essentially in response to Deputy Doherty's questioning, it seems both witnesses have gone native. I say that with the greatest respect for their many years of public service. The language I heard, particularly from Mr. MacSharry and particularly with regard to the Personal Insolvency Bill, is not in the public interest; it is in the interests of the banks, and I say that regrettably and with respect. That is certainly my conviction.