Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

May I come in again? I do not know what words to use to describe that response. The Minister is telling me that he first became aware of the situation when the EBA issued a clarification last week. Deputy Donohoe is the Minister for Finance. I do not know how many aides or advisers he has. He has a full Department at his disposal. The Central Bank published the letter it sent to me on 22 June on its website. I knew before 22 June, however, because of my engagement with the Central Bank. I wrote to the Central Bank at the start of June. I engaged with it before that. In my letter I pointed out that interest was not being charged in Spain or Belgium, countries which fall under the same EBA guidelines. That is why I wanted written confirmation. The Minister is giving the impression that he sat down with the banks, in some of which we hold the majority shareholding, and allowed them to spin him a yarn. He did not lift the phone to call the Central Bank to check what the situation was. He did not write to the Central Bank, as I did. It is obvious that nobody in his Department is looking at what is published on the Central Bank's website because it is there in black and white that banks do not have to charge interest and that doing so will not, in itself, create a risk of default or credit issue for the consumer.

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