Stephen Donnelly (Wicklow, Independent)
Link to this: Individually | In context | Oireachtas source

Exactly, there is a serious difficulty. Let us put that case aside because this is not the forum for an individual case.

A very serious issue arises if the Minister, going in as President, sees that a ruling has just been made here about pension funds. I am not talking about a basket of equities but money that a guy has deposited in the bank which is deemed outside the remit of the scheme and he will not even get €100,000. What would be the Minister's position in that situation? Does he agree that would be the right situation for the Europe-wide deposit guarantee scheme? I do not. I think this is a dangerous decision because it tells anyone who has money in recognised pension funds that they are not covered by the €100,000 guarantee.