Dáil Éireann Debate, Tuesday - 11 October 2016
335. Deputy Pearse Doherty asked the Minister for Arts, Heritage, Regional, Rural and Gaeltacht Affairs the progress made on implementing the programme for Government commitment to thoroughly investigate the German Sparkassen model for the development of local public banks that operate within well defined regions. [29594/16]
View answerThe Programme for a Partnership Government envisages that An Post, the League of Credit Unions and other interested stakeholders will be asked to investigate and propose a new model of “community banking” which could be delivered through the Post Office network. In this regard, the Government Programme includes a commitment to investigate, amongst other options, the German Sparkassen model for the development of local public banks that operate within well-defined regions.
The role of my Department will be to work with other Departments and stakeholders to examine the feasibility of this model and identify what part, if any, An Post could play in rolling out such a model in defined regions of Ireland.
I understand that the Minister of State at the Department of Finance, Eoghan Murphy, T.D., along with his officials, met recently with Sparkassenstiftung für Internationale Kooperation and Irish Rural Link in relation to the Sparkassen model. My officials have also been provided with details of the proposal by Irish Rural Link.
Following on from these initial contacts, my Department will work closely with the Department of Finance and other stakeholders, as required, over the coming months in progressing the commitment in the Programme for a Partnership Government to investigate the potential of the Sparkassen model.
