Seán Fleming (Laois-Offaly, Fianna Fail)
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I welcome Mr. Walsh and Mr. Considine here today. I want to read one sentence to them from a parliamentary reply given by the Minister for Finance, Deputy Michael Noonan, on 9 October 2012 when he was asked about the role of public interest directors. His specific response on the Dáil record of 9 October was as follows: "Public interest directors do not have a formal reporting relationship to the Minister or the Department of Finance." The Minister made it absolutely clear that there was not a formal reporting relationship between the public interest directors and himself or with the Department of Finance. In view of the Minister's stated position, I would consider it inappropriate for the witnesses to have that relationship when the Minister has made it absolutely clear that there is not a formal reporting relationship. I suspect that it would have been in breach of the witnesses' duties as public interest directors to have a formal relationship with the Central Bank that was different from that of other directors. Would Mr. Considine agree with that?