148 Deputy Bernard J. Durkan asked the Minister for Finance his views on the oft quoted assertion that the collapse of the economy was in some way attributable to low interest rates which were dictated by the European Central Bank and that corrective measures at national level were difficult in view of the current economic climate whereby interest rates as dictated by the ECB remain low but there seems to be no difficulty taking corrective measures to restrict borrowing even for vital business, domestic and commercial activity; the steps to be taken to ensure that the banking system here fully accepts its responsibilities in line with the supportive commitments given at cost to the taxpayer; and if he will make a statement on the matter. [5296/10]

Summary

148 Deputy Bernard J. Durkan asked the Minister for Finance his views on the oft quoted assertion that the collapse of the economy was in some way attributable to low interest rates which were dictated by the European Central Bank and that corrective measures at national level were difficult in view of the current economic climate whereby interest rates as dictated by the ECB remain low but there seems to be no difficulty taking corrective measures to restrict borrowing even for vital business, domestic and commercial activity; the steps to be taken to ensure that the banking system here fully accepts its responsibilities in line with the supportive commitments given at cost to the taxpayer; and if he will make a statement on the matter. [5296/10]

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