Caoimhghín Ó Caoláin (Cavan-Monaghan, Sinn Fein)

On the same body of business, there are two Central Bank Bills listed in the Government's legislative programme. When will the Government afford us the opportunity to address the disastrous failures of the Central Bank and the Financial Regulator? We have a situation where the Comptroller and Auditor General's report clearly indicates the serious inappropriate conduct and failure to regulate within those entities. The Bills I refer to are the Central Bank (consolidation) Bill and the Central Bank (No. 2) Bill, the latter of which is intended to address the question of necessary changes and enhancements to the regulatory functions of the bank.

Does the Tánaiste accept that for most Members and for the public it is difficult to accept that the Central Bank should have a regulatory role in view of the exposure of the fact that it cannot even regulate its own business but instead accommodated excessive overseas travel by executives and their spouses? There are serious matters to address and that should be done on the floor of this House.

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