Marc MacSharry (Sligo-Leitrim, Fianna Fail) | Oireachtas source

The programme for Government committed to supporting the European Central Bank and the Central Bank of Ireland in encouraging competition in our banking sector and to develop the fintech sector as a source of employment and competition. As a former member of the banking enquiry, I am acutely aware of our macro-prudential regulatory failings in the past and the flaw in the dual role of the Central Bank to regulate and promote financial services. We have moved on very substantially since then, but despite the fact that the Irish Central Bank reports to the European Central Bank, as do all others in the EU 27, we now have the worst reputation in the world in process, procedure and turnaround time. If it continues the way it is going, the Central Bank will be the only bank left in Ireland. Is it the intention that it will face the public and begin to offer retail services? The market internationally is actively avoiding dealing with Ireland. The most recent example is Revolut-----

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