Paul Coghlan (Fine Gael) | Oireachtas source

I join the Cathaoirleach and others in extending a very warm welcome to our esteemed Northern colleagues and to our good friend Paddy Harte and his wife.

There was a very measured contribution from Senator MacSharry this morning, and I agree with much of it. All Members would agree with it. It is very disturbing that Ulster Bank will let approximately 1,800 people go and close a number of branches. That is certainly very bad news for provincial towns in Ireland, which have suffered so much in many other respects. Some time ago I asked the finance committee to invite the chairmen and chief executive officers of the non-Irish banks to appear before the committee so we could learn something concrete about their plans for the future of those banks in this country. It goes without saying that it is very important to have competition in banking. However, it is more disturbing to hear that they and others have lined up so many repossession orders.

Society simply cannot afford to turf so many people out on the side of the street. Has the suite of options been fully exhausted? It looks like it has not.