The EU Commissioner for internal markets, Charlie McCreevy, has promised Irish banks he will not smother them in regulation.
However, Mr McCreevy acknowledged financial scandals had significantly increased political pressure for more rules and guidelines.
The commissioner also said he wanted to open a debate on introducing a pan-European mortgage market.
This would allow Irish consumers to get mortgages from banks in other EU countries.
Mr McCreevy was addressing a gathering of the Irish Bankers' Federation earlier today.
