Sir, – Your Editorial (October 9th) misses the point. The IFSC Clearing House Group spends most of its time monitoring international developments and especially the technical legislative changes necessary to compete against the many competitive alternative jurisdictions. It is an effective structure and the suggestion that we should moderate its influence flies in the face of Ireland competing internationally.
The answer is not to reduce the input from the IFSC Clearing House Group but rather to create similar structures for our other businesses that compete internationally. It is a salutary fact that while our domestic banking sector has been such an unmitigated disaster with few exceptions, the IFSC has been one of the greatest enterprises Ireland has ever created.
As someone who has retired, I had the privilege to work in the sector for the past 20 years. – Yours, etc,