Noel Treacy (Galway East, Fianna Fail)

The European project has evolved thus far. We are talking about enlargement today and having a detailed debate on the future of Europe which is very much on the agenda for subsequent debate into the future. The euro has evolved as a new currency for 12 member states under the control of the European Central Bank. It is very important that strict criteria be laid down and that all banks operate in a transparent way to ensure that equity and choice will prevail for consumers, that they can change banks if they so wish, and that there be no prohibition for any bank operating within the eurozone in particular, and the European Union in general, to operate in any member state or deliver a service to that member state.

Some progress has been made in this area but the process is still evolving. We have not reached a final conclusion on it. As the boundaries of Europe and the eurozone expand in future the rules will change. I hope that sooner rather than later there will be a common criteria under which all banks will operate to serve consumers in a clear, transparent, fair and open way. That would be important for us all.

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