Michael Noonan (Limerick City, Fine Gael)

Yes, it is tied into a banking supervisor being in place. However, it also is linked to President Van Rompuy's statement on a banking union. The banking union will develop a banking supervisor to supervise at least the main international banks in Europe, perhaps comprising 100 banks out of the 8,000 banks operating across the European Union. The timeline to have the banking supervisor in place is the end of the year. However, I hope we could go somewhat earlier, as there are reasons within Ireland's programme for October to be more in its interest than December.

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