Michael Ring (Mayo, Fine Gael) | Oireachtas source

Comments were made about competition between banks and the Minister, Deputy Noonan, creating two banks. He did not create those banks and the banks created the biggest problem we have had since the foundation of the State. Let us not forget about that. The banks brought this country to its knees and the Minister, Deputy Noonan, is the Minister for Finance who saved this country from I do not know what.

This Government has given a commitment and what we need is competition in the market. We need to ensure we make the right decision and whoever is put into the market should survive and be able to provide necessary capital and funding for small businesses throughout the country. We need a bit of competition. Deputy Ó Cuív is correct in saying this is not about banks or post offices but rather people's ability to get money. The Western Development Commission has a substantial fund and at the end of the year I gave it further money because it has a job to do. It does that very well and we must support small businesses. We need to be able to give people capital when they want it.

There is ongoing consultation and I hope all political parties, the public, banks, building societies and those who want to get involved with banking will make a submission. That will give us the opportunity to consider what we can do about banking in this country.

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