Brian Cowen (Laois-Offaly, Fianna Fail)

I do not agree with the contention that there has been very little change. There are different chairmen in various banks and different chief executives in various banks and building societies. With regard to the institutions covered under the guarantee scheme, there have been a number of changes. As the Deputy stated, there was an increase in the number of public interest directors appointed by the Government, and quite rightly so, in an effort to promote public confidence and ensure stability and continuity in a way that will in turn ensure the orderly reform of the banking system. It is important that the matter be dealt with in an orderly fashion.

I do not wish to discuss any individual banking institution but it is clear, on the basis of Mr. Sheehy indicating his preparedness to retire from his position, that there has been an ongoing effort, internally and externally, to determine who the best candidate for the post would be.

In one particular bank, an internal candidate was decided upon on the basis that it was in the best interest of the bank given the candidates available or interested in taking up the position. This is an ongoing issue. As I stated, it has been dealt with regarding another bank. I would like to see us proceed in this regard as best we can and as soon as we can.

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