Seanad debates

Monday, 9 November 2009

11:00 am

Photo of Ivor CallelyIvor Callely (Fianna Fail)

I endorse what Senator Hanafin said about European history, particularly in the past 20 years. I congratulate our national news network, RTE, on its piece on European history in the past 20 years. It is presented by Tony Connolly and we enjoy it every day on "RTÉ News: Nine O'Clock". It is worth anybody's while to watch it and the research and broadcasting are excellent.

There has been much debate on our financial institutions and banks in the past 12 to 24 months. I have taken up an issue with the banking chiefs. When one walks into a financial institution, one sees a great deal of advertisements for mortgages and car loans. The institution claims that it is in business for those reasons. I have asked the bank chiefs to make something that is currently lacking available to the public, namely, the code of conduct introduced on the recommendation of the Minister for Finance and the regulator. The code is not visible in the banking institutions. Will the Leader contact the Minister and the banks to determine what progress can be made to improve that situation, thereby ensuring people are fully aware of what codes apply?

Senator Ross and others have expressed well their opinion that appointees to the banks should be external. However, not everyone signs up to this view. Some people with a considerable amount of wisdom, knowledge and experience should not be discriminated against because they have worked the system well.

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