Eamon Gilmore (Dún Laoghaire, Labour)

Yes, it is the view of the Government that the interest rate reduction should be passed on to customers and we are going to take this one step at a time. As the Deputy said, it is about taking action, not words, and the Government is acting on the matter. We had a meeting yesterday with the banks concerned, at which we told them what our objective and intention were - we believe this was also the ECB's objective - that the interest rate reduction should be passed on to customers.

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