Dáil debates

Tuesday, 8 November 2011

4:00 pm

Photo of Aodhán Ó RíordáinAodhán Ó Ríordáin (Dublin North Central, Labour)

On the very same issue, I understand National Irish Bank is owned by Danske Bank and that it does not have to adhere to ECB guidelines because it is Danish owned and Denmark is not in the eurozone. However, as Deputy Adams quite rightly stated, it intends to increase its variable mortgage interest rate by 0.95% this Friday. If legislation comes before the House in this regard, what can we do to ensure interest rate increases of such institutions, which work within our marketplace, will not have a huge impact on families across the State? What can we do with institutions that are foreign owned and outside the remit of the ECB?

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