Jim Higgins (Fine Gael)

There is a marked degree of glasnost in this House by comparison with the other House. I take the point that the Minister of State is making and I will be withdrawing the amendment. In relation to the Minister of State's comments that this fundamentally changes the character of the Central Bank, we will all welcome that if it happens. Does the leopard ever change its spots? The problem is – and this was quoted ad nauseam in both Houses on Second Stage – that the Central Bank effectively has divested itself entirely of its consumer protection remit, as it said on occasion in the past that it wished. That was for somebody else. It had a central, important role that we all acknowledge which was to ensure the solvency of its constituent members. It ensured that the consumer was protected in that regard by ensuring that the banks were solvent. We certainly hope that the pledge of faith that has been given to the Central Bank in relation to its overarching responsibility in connection with this regulatory authority actually will happen.