Seanad debates

Thursday, 16 December 2010

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

 

2:00 pm

Photo of Joe O'TooleJoe O'Toole (Independent)

I have raised the following question, including on the Order of Business. Does this country need a Central Bank? What we need is regulation and a Central Bank for the currency. Forget about the little Irelanders, as I describe them, who believe this is something to do with sovereignty. I am just talking about operating our currency. I presume the Minister would be instinctively in favour of euro bonds, although I am not sure whether he has offered a view on that publicly. Do we need a Central Bank? What we need is regulation and a democratic European Central Bank in Frankfurt to which we can send a curate every month. Do we need a Central Bank, apart from the optics of being able to deal with those europhobes? Do we need 16 central banks to run the one currency?

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