Ciarán Lynch (Cork South Central, Labour)
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I thank Professor Kane for his opening comments. The order of members engaging today will be Deputy Michael McGrath leading with 15 minutes, followed by Deputy Eoghan Murphy for 15 minutes, and then, in six minute slots, Senator Seán D. Barrett, Deputy Kieran O'Donnell, Senator Marc MacSharry, Senator Susan O'Keeffe, Deputy Joe O'Higgins, Deputy Pearse Doherty, Deputy John Paul Phelan and Senator Michael D'Arcy.

I will deal briefly with a couple of matters before I invite Deputy McGrath to speak. Professor Kane suggests in his broader paper that £157 billion sterling has been paid in fines levied between 2008 and 2013. Is it Professor Kane's proposal to the committee this morning that fines of this magnitude will continue if a more stringent and more determined regulatory structure is not put in place?