Vol. 533 No. 6
52 Mr. Durkan asked the Minister for Finance the extent to which his Department and the Euro Changeover Board is monitoring any potential inflationary practices by the commercial banks or credit card companies which might have a detrimental effect on the economy as we approach the euro changeover deadline; and if he will make a statement on the matter. [9666/01]
The Euro Changeover Board of Ireland has two basic tasks: to oversee the detailed implementation of the changeover to the euro and to provide public and consumer information. It does not have a role in relation to monitoring prices or practices of the sort mentioned by the Deputy nor do I, as Minister for Finance, have responsibility in relation to the charges levied by financial institutions, which would appear to be the issue about which the Deputy is concerned.
Bank charges are controlled and monitored by the Office of the Director of Consumer Affairs. Bank charges only represent about one thousandth of the overall consumer price index. If the Deputy has any reason for concern in this area, I would suggest that he raise it with the Director of Consumer Affairs.
