Vol. 552 No. 3
56 Mr. Deasy asked the Minister for Finance if he has received proposals from the two banks, AIB and Bank of Ireland, for amalgamation; his views on whether such a proposal would be advisable; and if he will make a statement on the matter. [12457/02]
As stated in my earlier reply to Deputy Mitchell, I have not received any proposals from AIB or Bank of Ireland nor am I aware of any other relevant regulatory authority receiving any such proposals. In the circumstances the matter has not been put to the Government for consideration and the Government has not adopted a policy stance as to what its response to such a proposal would be. The Government will address this issue if and when it arises in a thorough and comprehensive manner, with full regard to all relevant factors.
If a merger includes a significant cross-Border element, as would appear to be the case in the event of AIB and Bank of Ireland merging, the European Commission must also be notified by the parties. The Minister for Finance's role, as outlined in the Central Bank Act, 1989, is to take a considered view of the common good, and this could only be done on the specifics of a case as presented. In that context, I feel that should such a proposal be made it should be objectively evaluated and approached with an open mind.
Question No. 57 answered orally with Question No. 1.
