Alan Shatter (Dublin South, Fine Gael)

As you will see, Sir, it will not be when I get to the point I am about to make. I have a genuine concern and am not trying to make a point for the sake of it. This is far-reaching legislation. At present, we see ourselves addressing an immediate issue concerning the functioning of the banks in this State and their capacity to conduct business on a normal basis. We, in this House, need to accept that this legislation gives the banks in this State a substantial competitive advantage over all banks in Europe and over other subsidiaries operating within this State that are not being covered by this legislation. This legislation does not cover Ulster Bank. It does not cover First Active.

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