Michael Noonan (Limerick City, Fine Gael)

The banks are being reconstructed. There will be two pillar banks. We will have much smaller banks, as the banks will be deleveraging most of what they have in terms of impaired debts abroad and will be concentrating on the home market. Much smaller banks will require fewer employees. Restructuring of the banks will result in significant savings to the banks which will enable them to offer a more cost effective service to all of their customers.

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