Oireachtas Joint and Select Committees
Thursday, 11 December 2014
Public Accounts Committee
Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013
11:50 am
Mr. Bobby McVeigh:
I will use the following example. Of the countries I have worked in, be it Poland, Romania, Canada, Australia, New Zealand, this is the only country that the Government saw fit to ensure this sector survived and survived well and put an incentive in place to do that. I would tell the credit unions that this is a golden opportunity but it is time-bound and voluntary and that they should not leave it to 2016 or 2017 to come to us because we will not be there. It is as simple as that. They know that and we have made that clear. By 31 December 2015, we will be toast.