Irish association calls for central bank reform

IRELAND - The Consumers' Association of Ireland has called for a lessening of the power of the Department of Finance and the Central Bank in how the new financial regulator will work.

In a submission to the Government on the regulator, the association called for Mary Harney's department to have a major role the appointment of key positions.

The comments of the consumers' lobby came as the chairman of Financial Services Authority Brian Patterson defended the new body from criticism.

Mr Patterson

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