Simon Coveney (Cork South Central, Fine Gael) | Oireachtas source

I am not suggesting that it did. What I am saying is that I do not believe any consumer protection regulator would have the power the Central Bank has. That function needs to remain with the Central Bank. We will have a comprehensive statement from the Government tomorrow. We expect a comprehensive statement from the banks also. If we do not get that, the Government will look at the options that are available to it.

On the legislation issue, I will leave it to the Ministers concerned to discuss the detail in that regard. If the Central Bank indicates that it needs more power, it will get it from Government.

See this speech in context