Terry Leyden (Fianna Fail) | Oireachtas source

I, too, welcome the appointment of Professor Philip Lane, economics professor at Trinity College, as the new Governor of the Central Bank. It appears an unseemly row has broken out between the Minister for Finance, Deputy Noonan, and the Minister for Public Expenditure and Reform, Deputy Howlin, in regard to that appointment. They should not be washing their dirty linen in public. It undermines the credibility of the new Governor that the Minister, Deputy Howlin, is not in agreement with his appointment. It is disturbing, to say the least, particularly in the European context, that there would be any doubt, cloud or shadow cast over this highly reputable appointment, which I think everybody here welcomes.

I ask that the new Governor investigate the activities of Mars Capital, which acquired the 2,200 loans from Irish Nationwide Building Society. Mars Capital is a vulture fund which although registered in Ireland, does not appear to be under the control of the Central Bank. I cannot find any evidence on its website that it is under the control of the Central Bank. It was brought to my attention this morning that it is regularly in touch with compliant customers and mortgage holders in regard to their accounts. I would regard this as a form of harassment. I would like to see Mars Capital brought under the control of the Irish Central Bank, in particular with regard to mortgage loans and interest rates. I ask the Leader to request the Minister for Finance to come to the House for a debate on that matter, which I may also raise as a Commencement matter.