Enda Kenny (Mayo, Fine Gael)

This is a bad day for the 760 employees of Bank of Scotland (Ireland). It is a bad day for the bank's 300,000 holders of variable mortgages. If Bank of Scotland leaves Ireland, it will take with it competition and choice. We cannot return to the old days of the cosy cartel that operated between Bank of Ireland and Allied Irish Banks.

Eighteen months ago, the Taoiseach's Government promised a restructuring of the Irish banking system. In respect of these 300,000 holders of variable mortgages and others, what does his Government now propose to do to introduce choice and competition to the banking sector?

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