Joan Burton (Dublin West, Labour)

I referred earlier in the debate to section 4(4) which basically gives the Minister the right to vary the amount. In a uniform credit deposit protection scheme a good bank, which is well regulated and well run, ends up reserving exactly the same amount as a bank which is indulging in risky behaviour. Can the Minister clarify what his approach to that will be? The Anglo-Irish Bank model was to offer very high rates of interest and return by risky short-term borrowing. When the balloon went up, the bank was left with a fundamentally dangerous structure. In many ways, that was the reason the State - the Minister's party - stepped in with the overall guarantee.

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