Cathal Byrne (Fine Gael)

I thank the Minister for his overview of this technical regulation. It is appropriate, given the changes at European level, that there be an opportunity in the Oireachtas to debate this. I mentioned when the Minister's colleague, the Minister, Deputy Byrne, was in the Chamber a few weeks ago the fact that while we are recognising insolvencies across the EU, access to credit is not available on a European level and it is not possible for a deposit-holder in Ireland to gain access to deposit rates in banks in Germany, Spain, Portugal or elsewhere across the EU. The same is the case when it comes to lending. Considering that we have greater integration when it comes to financial matters like insolvency and that we can recognise insolvency proceedings across the EU, individuals across the EU should have access to the financial markets in a greater way than is currently possible. It is important that this point be highlighted.