Seanad debates

Thursday, 12 June 2003

Interest Rates Reduction: Statements.

 

I would oppose any amalgamation between the AIB and Bank of Ireland, because an institution of that strength and size would not respond to public criticism. There is, at least, some element of competition in the market, but it is obvious there is collaboration on interest rates. The Government cannot get involved, but I commend the Minister for Finance for raiding the dormant accounts. That was a great achievement and it is a credit to the Fianna Fáil-Progressive Democrats Government which decided to take action in this regard. We are very much on the left of Irish politics and we are not prisoners of the banks. The Leader is certainly not their prisoner because she was prepared to allow the debate to proceed.

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