Minister for the Environment John Gormley has voiced support for an inquiry into the collapse of Ireland's banking system.
Central Bank governor Patrick Honohan has already said an inquiry was required. Dr Honohan told the Oireachtas Committee on Economic Regulatory Affairs last week that the inquiry should be similar to a US congressional hearing into the September 11th terrorist attacks on the US.
Taoiseach Brian Cowen reacted cautiously to Dr Honohan’s call, arguing that the immediate priority was to restore stability to the sector.
Speaking in Dublin today, the Green Party leader said an inquiry was vital to get Ireland’s banking system “up and running again”.
“We do need to get to the bottom of what occurred,” he said. “The whole idea of openness and transparency in relation to this is something that I have always supported.”
Mr Gormley said the enquiry would also need to establish exactly what the relationship was between Anglo Irish Bank and Fianna Fáil politicians.
“That is what an inquiry would have to establish,” he said. “Let’s get to the bottom of it before we come to any judgment.”
Mr Gormley said he had not yet decided exactly how best an inquiry should proceed but he hoped it could be established in the New Year.
Mr Gormley’s spokesman later said the Minister would favour an Oireachtas inquiry or a Commission of Inquiry to investigate the banking sector.