Taoiseach Bertie Ahern has defended his remarks in support of the banking industry against Opposition criticism.
Mr Ahern had last week expressed support for the banking sector when he addressed a lunch of the international banks and the Irish Bankers' Federation at the International Financial Services Centre.
In the Dáil yesterday he reiterated his remarks that "if another industry such as a car company, an information and communications technology industry or an agricultural co-operative industry makes a profit, people will say it is a good performance. However people think there is something wrong if banks make a profit."
He was responding to Labour leader Pat Rabbitte, who questioned what he termed as Mr Ahern's concern that "we should be nicer to banks".
Mr Rabbitte said that while it was important to the economy that banks in this country are financially sound and profitable, "surely he is aware that banks in this country are the most profitable in Europe". Mr Rabbitte said Mr Ahern was "very nice to them when he discontinued a €100 million levy in the Budget. What does he think we can do that would be nicer to them?"
The Taoiseach said that he was addressing an industry that employed 55,000 people. He had "no difficulty saying that the banks should be competitive and charge competitive rates". The best way to do so is to have competition in the market.
"The bankers I addressed were the people who create that environment, not representatives of just the two main banks in the country," Mr Ahern said.
"I was speaking to international bankers whom we have been trying to encourage to operate and create competition in the Irish economy. We would like to see more funds management and insurance involvement by the banking industry. One of the great selling points of the Irish economy is that more than half of the international banks are based here," he added.
