Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

Apart from representing the selfish interests of the financial services industry which comprises the main players in the world's financial markets, what benefits to society has the IFSC delivered for the people of Ireland in the past ten years? The Taoiseach has said the clearing house group has been meeting since 1987 when the IFSC was set up. Does he know whether, at any stage during the property bubble and the reckless speculation in the financial services and property sectors, this group alerted the Government to the disaster in the making to try to avoid the inevitable crash, or was it too engrossed in the profits that would be created for the industry? Does he agree that the IFSC Clearing House Group which met 29 times in 2012 and which offers ready access for the biggest players in the financial services industry - the major banks, bondholders etc. - to the Government and the most senior civil servants is nothing other than a massively glorified lobby group? Is it not the nirvana of lobby groups in that it has such incredible access to the Government at the highest level? If the Taoiseach believes this is constructive, would he consider creating similar facilities for groups such as homeowners in mortgage distress or people suffering from the horror of unemployment? Does he not see the huge dichotomy, divergence and inequality in this regard?

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