Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

It is worthwhile acknowledging, as the Deputy has done, that we have not seen recent decisions made that have led to abrupt changes to interest rates available. I agree, however, with one of the Deputy's points, that is, that in the time ahead it will continue to be important to monitor competitive changes within our marketplace. He is correct in acknowledging that because of the move in Ireland from a five-bank model to what will become a three-bank model, there will be a reduction in the number and diversity of mortgage offerings as the number of banks in our country begins to change. For all those reasons we will continue to evaluate what happens. I go back, however, to the earlier and the important question the Deputy put to me about our consumer protection code and my belief and judgment that it is adequate.

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