Kieran O'Donnell (Limerick East, Fine Gael)

The problems in the banking system arose because there were technical problems which required knowledge of derivatives and in-depth knowledge of banking. The people the Minister has appointed are excellent people in their own field but I question their lack of banking experience. Is the Minister satisfied they will have adequate knowledge to deal with issues?

On the question of their fiduciary duties, I refer to the situation in my constituency in Limerick, where the Government appointees to the board of Aer Lingus effectively were not worth the paper they were written on, so to speak.

These directors have been appointed for a specific public interest purpose. Is the Minister willing to change legislation dealing with company law to ensure these directors are there in the public interest? How often will they report back on progress in the banks to the Minister?

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