John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

I recognise in the Minister the decency and moral compass that he has applied to the issue. However, he is dealing with thieves. These are people who ignore regulation and whom the Central Bank could not control. They are responsible for the deaths of people by suicide. They are responsible for the loss of 100 homes. The figures the Minister gave today do not add up. The number is 14,400 according to the Minister, with only 3,500 being repaid by AIB, which predicts that the numbers in that bank will double. Representatives of KBC came before the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach and refused to answer the questions. They refused to give us the information. Those from the Central Bank spoke about moral suasion. One cannot impress on the banks anything to do with morals because the culture is so incredible and they have now passed it on to the next generation of bankers.

On 4 July 2013, the former Minister for Finance, Deputy Noonan said in answer to Deputy McGrath that the ECB could choose to fly people to Dublin for supervisory purposes in relation to the Bank of Ireland and AIB. He admonished Deputy Pearse Doherty for his genuine and sincere efforts on behalf of the customers affected.

Where is the ECB now? Will the Minister for Finance insist tomorrow morning on each and every bank, at their own expense, appointing an ethical officer who will report regularly to the Central Bank? Given that it does not deliver it, will the Minister take responsibility for customer protection from the Central Bank. It has allowed this to happen. The Central Bank has stood idly by and the Minister would not be here were it not for the testimony of the brave individuals who came forward. The Minister of State, Deputy D'Arcy, says that it is a matter for the Central Bank and, in the context of the amendment he has tabled, has taken Government out of it. The Government should stand up and take responsibility. It should be as brave as those who were robbed and had to pour out the details of their lives in public to get their rights.

The banks in this country have robbed individuals and families of everything they have, including their dignity and their lives. They are the thieves in this question and the Minister, after today, is driving the getaway car for them. Shame on the whole lot of you.

See this speech in context