Pearse Doherty (Donegal, Sinn Fein)
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I welcome the witnesses and their opening statement. Like Mr. Justice Hedigan, I, too, am a sceptic on this matter. That being said, anything that might improve the culture within banks is to be welcomed. However, I am very sceptical of this because it is about the banks and the industry trying to get out first.

It came about in light of the major tracker scandal, and when it eventually came to a head close to the Christmas period, this was one of the solutions put forward. It allows for stopping more invasive action by the Oireachtas in respect of dealing with the culture within banks. If one is in industry, it is always better to get out ahead so that one can control the game. That is where some of my scepticism comes from. Despite the bank having a number of very senior representatives from the industry, I note the board also has a number of capable and well-intended members. I am sure the staff it employs are similar. I ask the witnesses to outline initially for the committee their view of the current culture within banking in Ireland.