Seanad debates

Thursday, 16 December 2010

Credit Institutions (Stabilisation) Bill 2010: Committee and Remaining Stages

 

2:00 pm

Photo of Jerry ButtimerJerry Buttimer (Fine Gael)

The Minister can and I will come back to it again. Who is now dictating to us? Is it the European Union, the IMF, the European Central Bank, Mr. Elderfield, the Attorney General or the mandarins in the Department? Looking at the rest of the section, we have not protected the interests of the ordinary person. We can have a debate about bondholders and other sectors, but we all accept that there is a compelling need to have a proper banking system.

On Monday I went to the Bank of Ireland branch in Wilton. The tellers have been distraught at times at the abuse they receive. This is because of the failure of the Government to protect the interests of the people. The Minister can respond but the reality is we have not done it. He saw the run on money. People vote with their feet. Ordinary people do not have confidence because he is not explaining the matter properly to them. They do not believe Anglo Irish Bank is central to the reorganisation of the banking system. He has not convinced me of the need to retain that bank.

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