Brian Ó Domhnaill (Fianna Fail) | Oireachtas source

Yesterday a number of Members raised the issue of decisions taken by the Bank of Ireland. It has rowed back somewhat but in a meaningless way by identifying vulnerable customers and it has not rowed back on its decision to go cashless. Yesterday evening the Consumers Association of Ireland identified four retail banks that will follow suit. Such a move will have a major impact on the viability of branches, especially in rural areas where the average customer will not have 30 cheques to deposit and machines may not be available. Bank branches will be closed throughout the country unless the Minister for Finance or the Central Bank intervenes.

To date, the Central Bank has been very weak and poor. Its attitude seems to be to protect the customer but protect banks first. By protecting the banks the Central Bank allows them to make profits, but the banks seem to be able to use the argument that to make a profit they have to charge extraordinary interest rates, a discussion we had last night, and they have to rationalise services, which is what is being done. The Central Bank does not protect customers or fulfil its obligation to them. The new head of the Central Bank is Professor Lane and the big question is whether he is willing to challenge the consensus. If not, then without the intervention of either the Minister for Finance or an overarching authority, which would have responsibility for the Central Bank, banks will continue doing what they are doing.

I call on the Acting Leader to arrange a debate on the future of this island in the context of the ESRI's report on a Brexit that was announced this morning. Last night RTE broadcast a great television programme and I declare that the public broadcaster did the State some service. The emergence of that programme has generated many discussions in communities in the North from both backgrounds and the engagement that takes place between institutions of State and local communities. The Brexit issue is an east-west issue. If the British Government, following a referendum, takes the decision to withdraw from the European Union, it would have major economic and social implications for Ireland and its citizens, not least of which is travel. When travelling home to Donegal, as I will do so tomorrow, will I need to show my passport at the Border? There are questions on fundamental issues that need to be answered. I am not sure what engagement at Government level has taken place to date but I suspect there has been very little. We must invite the Minister for Foreign Affairs and Trade and any other relevant Minister to come to the House to discuss this major issue.