Michael Noonan (Limerick City, Fine Gael)

I was asked a direct question in the Seanad and at the time, there were a lot of rumours going around about credit unions, which were exaggerated. They were applying the conditions that apply to a small minority of credit unions to the generality and I wanted to allay fears by saying that the Central Bank and the Government stood ready to support credit unions, their depositors and their borrowers. That position stands and that is what happened in Newbridge.

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