Maurice Cummins (Fine Gael) | Oireachtas source

The leader of the Opposition, Senator Darragh O'Brien, raised the topic of Bank of Ireland raising ¤1 billion in funding on the bond markets. It is an important milestone on the path to full independence for the banks. It is the first time since October 2010 that Bank of Ireland has been able to access the international debt markets in a benchmark public issue. The issuance is further evidence of the strengthening and normalisation of thje banking system. It is a clear show of confidence by international investors in the restructuring of the sector and its viability in the future. The commitment of ¤1 billion from investors in unguaranteed Irish bank paper is important in decoupling the sovereign from the banks. It is a step towards a full return to the wholesale markets independent of State support. The strong investor appetite is demonstrated by the fact that the issuance was close to two and a half times oversubscribed. That is an expression of confidence in the economy. The deal is an important part of the normalisation of the banking sector. Access to international markets at sustainable rates is vital to the viability of the banking sector. I take on board what Senator Darragh O'Brien mentioned in respect of mortgage interest rates.

The acting leader of the Labour Party, Senator James Heffernan, raised the very sad tragedy we learned of in Galway. Our thoughts and sympathy go to the husband and family of the young woman who died in the Galway hospital.

The vast majority of Members have commented on this tragic event and asked about the report of the expert group. I understand the report of the expert group on the judgment by the European Court of Human Rights in ABC v. Ireland has been completed and was delivered to the Department of Health last night. The Minister for Health has not yet seen the report as he is in Cork. He has a duty and responsibility to read the report, reflect on it and bring it to the Government. The expert group was asked to examine the judgment and present a series of options on how to implement it, taking into account the constitutional, legal, medical and ethical considerations involved in the formulation of public policy in this area. The Government has until 30 November to send a response to the Council of Europe on the progress made in this area. That is the position as it stands.

In regard to the death of the young woman in Galway, I do not intend to make any further statement. As I understand two investigations are taking place, it would be wise to wait for their findings. I am sure the House will have a debate on the findings of the expert group in early course.

A number of Senators raised various issues, including Senator Conway who referred to bankers' pensions. Certainly there is a will on the part of the Government to tackle the issue. I am confident the Minister for Finance, Deputy Michael Noonan, will find a way to deal with it soon.

Senator Terry Leyden raised the issue of the transfer of a prisoner to the Czech Republic. The matter was raised previously and I dealt comprehensively with it. Just to refresh the Senator's mind, I will go over it once again. The transfer was being made under the Transfer of Sentenced Persons Acts 1995 and 1997. The Acts provide for a mechanism whereby non-nationals serving sentences in Ireland may apply to serve the remainder of their sentences in their own countries where those countries are parties to the Council of Europe Convention on the Transfer of Sentenced Persons. In the period 1995 to 2011, approximately 140 Irish citizens were transferred to Ireland from abroad to serve their sentences here, including 39 citizens convicted of murder in other states. A similar number of foreign prisoners were returned to their home countries to serve their sentences there. The Czech Republic is a convention state as defined in section 1 of the Act. In the particular case of the Czech authorities, they have given assurances that Mr. David Brozovsky will continue to have his sentence of life in prison enforced and will serve at least 20 years of his life sentence before being considered for conditional release. Furthermore, the serving of an exclusion order which will require him to remain outside Ireland is being considered and processed through the normal channels. I have a good deal more information which I outlined to the House and the Senator previously but I will impart it to Senator Leyden if he wishes to have it.