asked the Minister for Finance if he will consult the Central Bank with a view to an amalgamation of the smaller Irish banks with major shareholdings in such amalgamated banks by large banks and insurance companies.
Ceisteanna—Questions. Oral Answers. - Bank Amalgamations.
38.
I am aware that the Central Bank's policy is to encourage rationalisation of small banks where it considers that this course is in the interest of the orderly and proper regulation of banking.
What exactly does the Minister mean by "rationalisation" in that reply.
I am referring to what the Deputy was referring to in his question: the question of the amalgamation of banks.
Does the Minister mean compulsorily amalgamating banks?
No. The word I used was "encourage".
Is the Minister worried about the Irish banks?
No. It would be very wrong for anybody to suggest there is any reason to be worried about the Irish banking system.
In view of the amount the Minister has borrowed from it.
The banks are held in very high repute. If Deputy MacSharry is seriously concerned about the interests of the country, I would ask him not to make suggestions of that kind.