Stephen Donnelly (Wicklow, Independent)

I will finish on this point. Mervyn King said:

The objective of supervision is to recognise that banks will fail. Our role is not to stop them failing. Our job is to make sure that if they fail because of management, then they do not contaminate the rest of the financial or economic sector, but they are allowed to fail.

I would urge the Taoiseach to consider those two approaches as fundamental radical reforms of the banking sector.

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