Eugene Regan (Fine Gael)

As with NAMA, the Government parties are waiting for the European Commission to make the decision for them but there is an onus them to outline their plans for the banking sector to the House.

Yesterday's announcement also highlights the need for the two main banks — Allied Irish Banks and Bank of Ireland — to divest themselves of their non-core assets in other jurisdictions such as Poland, the United States and the United Kingdom in order that they can refocus on lending and making credit available in the Irish market.