Paul Coghlan (Fine Gael) | Oireachtas source

I remind the Leader of the concern many people have about the future of the IFSC and the banks, about which I spoke about here some time ago. I know a number of the banks are, unfortunately, winding down. I am talking about foreign-owned banks. I am worried about competition but there is a much more immediate threat reported in The Irish Times this morning. It concerns a radical new plan or rethink for the IFSC. Something is badly needed there. There has been such investment in infrastructure down there and there are some iconic buildings. It will not serve the capital city well if jobs are lost and people are less inclined to live down there. I know the Leader is anxious to have a debate on banks. At a meeting of the Oireachtas Committee on Finance, Public Expenditure and Reform, I raised the threat of foreign-owned banks winding down and possibly exiting our market, which would be very serious. We had hoped to have the debate, but I think we have run out of time to do it this session. It is urgent. I urge the Leader to arrange a combined debate or two separate debates when we come back.