Aidan Davitt (Fianna Fail) | Oireachtas source

I wish to raise Britain's imminent departure from the EU, about which we are all aware and which has been discussed at length in this House. Europe will tell us how much it is doing for us, that it is standing both behind and shoulder to shoulder with us, that it will help us over this and that we will not be at a loss due to our closest neighbour leaving the EU. The first tangible thing that the EU could have done for us in this regard. would have been to relocate the headquarters of the European Banking Authority from London to Dublin. I would have thought that out of all the different organisations that will be obliged to relocate from London, the European Banking Authority would have been perfect for Dublin. If the EU is intent on cushioning the blow, assisting Ireland and living up to all of the great talk coming out of Brussels, then relocating the authority's headquarters to Dublin would have been a logical step. This is, of course, a great story because Dublin was judged to be a better location than Frankfurt and Berlin and to be on an equal footing with Paris. What did those responsible for relocating the authority's headquarters do? They put the names of Dublin and Paris into a hat and then drew one out. I cannot believe that Paris was favoured over Dublin at a time when Ireland is going to be more disenfranchised than any other member state as a result of Brexit. Given the fact that we have the International Financial Services Centre, at which many American financial institutions have operations, one would have thought that Dublin would have been the logical choice when it came to relocating the headquarters of the European Banking Authority. I am extremely disappointed. We will have to fight harder on the European front. I ask that the Minister, Deputy Coveney, raise this issue when he is next in Europe. What is Europe's intention? If it is going to give us some tangible help, which it said it would, what will it be? If we have lost out here, will we get the next agency that is due to move?