Pat Rabbitte (Dublin South West, Labour)

Speaking about a different Bill, he stated:

It would have been better had this happened more quickly but now it is in place we will have a world-class system of regulation. We should not lose the run of ourselves because there is a danger we could over-regulate financial services. However, we must not over-regulate the banking sector to the extent that it becomes a disincentive. We all have had our difficulties with the banks from time to time but we should not over-regulate them to the extent that it becomes unattractive for people to invest here, not because the country is not doing well but because there is an overarching panoply of regulation which acts as a disincentive.

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