Ivana Bacik (Independent)

We need to have a debate about the process of appointments of persons to the European Court of Auditors. I agree with Senator O'Brien this is a very important role and needs scrutiny.

On the Senator's comment on National Irish Bank, I believe all Members, on both sides of the House, condemn the failure or refusal of any institutions, in particular those receiving State money, to pass on interest rate cuts. It is outrageous that they refuse to do so - not only has National Irish Bank so refused but it has indicated it will increase rates, which is outrageous.

However, the Taoiseach has indicated that, if necessary, he will introduce legislation to require these institutions to pass on interest rates to their customers.