Banking Inquiry To Get Underway Next Week

BANKING INQUIRY TO GET UNDERWAY NEXT WEEK

The government has agreed to set up the Oireachtas banking inquiry immediately.

The government Chief Whip – Wexford’s Paul Kehoe will move the motion in the Dail on Tuesday with the inquiry to be established immediately afterwards.

A new committee – comprised of both TDs and Senators – will be set up to hold in the inquiry.

However the Chairman of the Oireachtas Finance Committee, Labour’s Ciaran Lynch, will also chair the new inquiry.

Deputy Lynch said the inquiry needs to ensure the same mistakes are not made again:

“The inquiry itself should not just give a clear statement of fact and provide…information that led up to the time of the banking guarantee – but it also ahs to lay out recommendations that go into the future that make sure we don’t face into this type of crisis again” he said.

“There is a lot of discussion at the moment – particularly in the Dublin region – that we are heading into another property bubble”.

“Surely the type of mistakes that were made in the past should not be repeated into the future”.

“And I think the inquiry should – not only be looking to the past – but it must also be looking to the future for us to have the full benefit and to deliver to the public the best type of recommendations possible” he added.

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