Kieran O'Donnell (Limerick East, Fine Gael)

Equally that applies because Ireland is in this mess as a result of the housing market.

Referring to credit unions and section 4, the majority of the credit union movement has been extremely prudent in how it lent money and retained its deposit base. It seems a little unfair in a situation where they will be levied on a higher deposit base to a loan base over the normal banking institutions. I note that the Minister is in discussions on the administration of the scheme. The Minister mentioned that where credit unions are unable to meet the 0.2% of the prescribed deposit base, leniency could be applied but he might consider this as a general perspective for the credit union movement.

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