Seanad debates

Wednesday, 7 May 2014

3:10 pm

Photo of Paul CoghlanPaul Coghlan (Fine Gael) | Oireachtas source

Senator MacSharry says that practice makes perfect and I acknowledge that no one has had more practice than he in regard to bluster and so on in this Chamber. I find myself in agreement with the comments of my colleagues, Senators Mullins and Henry, on this medical cards issue. Senator MacSharry probably was prompted by the Taoiseach's humane approach as regards discretionary cards but more about that anon.

I wish to raise the comments made yesterday by the credit controller, Mr. John Trethowan, before the Joint Committee on Jobs, Enterprise and Innovation when he voiced his concerns regarding the exiting foreign banks leaving the Irish market, namely, Danske Bank, Bank of Scotland and ACC-Rabobank. This is an issue I addressed myself at the Joint Committee on Finance, Public Expenditure and Reform last week. It seems as though these people are not concerned about the strategies they are employing against their customers, which in many instances are very unfair. I raised these last week with the Governor of the Central Bank at the aforementioned committee and since then a number of cases have been brought to my attention directly that I intend to pursue further with the Governor. In fact, I have written to the Joint Committee on Finance, Public Expenditure and Reform asking that the chief executive officers of the aforementioned three banks be brought before it to be questioned because their winding-down strategies are showing scant regard for customers and particularly for small to medium-sized enterprises, SMEs. While they may not be concerned about any wreckage they are leaving behind them in their wake, Members must be concerned. We cannot afford to have inflicted any further structural damage on SMEs or to impede their recovery. I have been given instances of breaches of contract and of agreements, over-willingness to appoint receivers to viable trading companies and unnecessary demands as regards refinancing with other institutions. While I do not seek an immediate debate, this is an issue that Members might review following the further hearings by the Joint Committee on Finance, Public Expenditure and Reform on the matter.

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