Seanad debates
Wednesday, 2 April 2003
Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage.
I am sure the Senator is aware that certain persons are designated as members of the board by virtue of their office and there are five such persons specified in the Bill already. In those circumstances, it seems reasonable to leave the Minister for Finance with some discretion in relation to the balance of the appointments. The Senator raised a valid question about trust in politics and politicians but, under our constitutional system, legislation gives Ministers powers which they have to exercise and be accountable for to the Oireachtas, as well as being responsible at the bar of public opinion. Therefore, any Minister for Finance has to be careful in the exercise of this more than any other appointment.
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