Paul Coghlan (Fine Gael)

Senator Norris made a very interesting point this morning as regards the length of time it takes for a cheque to clear through the system. Clearing house practices and rules exist but we need full accountability and transparency in this regard. I wish to add to his call for a debate on banking and the economy. In regard to banking, it is important that we know that everyone in the two pillar banks in particular - as the foreign banks have virtually departed - both at senior management and board level, have all been approved at this stage by the Central Bank and that they have met the fitness and probity tests as laid down. There is also the question of the downsizing of AIB and the position as regards the offer to the staff. I am concerned that we will have a duopoly with just two pillar banks. This is not good as regards the availability of credit in the future. I refer to the role of the credit controller's office and how it interplays. I support Senator Mullins's very interesting point in regard to the restructuring of the credit unions because there would be less competition without them. These are all very important matters and in my view are worthy of a debate in an early court if that can be arranged.