FF Senators question banking inquiry

A number of Fianna Fáil Senators questioned the Government's proposed Oireachtas banking inquiry.

Paschal Mooney (FF) asked if it would be a political witch hunt against his party.

“Is the purpose of the inquiry to attack Fianna Fáil rather than finding out the truth?’’ He added: “The media are reporting the inquiry will start in the months immediately preceding the local and European elections.’’

Mr Mooney said there must an open and transparent debate on the inquiry’s terms of reference. “It is vital that the immediate aftermath of the banking guarantee is also investigated,’’ he added.

Damage
Lábhras Ó Murchú (FF) said that while most people would agree there was a need for a banking inquiry, he was disappointed it would be used to damage one political party or another.

He said Independent TD Shane Ross had raised the alarm on RTÉ radio when he said not involving Anglo Irish Bank would allow people the opportunity to grandstand.

Darragh O’Brien (FF) said the Seanad should debate the issue. “This is still a House of the Oireachtas, regardless of what the Government wishes to do,’’ he added.

Guarantee
Ivana Bacik (Labour) welcomed the announcement of the setting up of the inquiry, adding that events leading up to the night of the bank guarantee was rightly the preliminary focus.

She said there was difficulty in that focusing on Anglo Irish Bank had the potential to jeopardise three trials which were pending. “Were there to be an inquiry focusing on Anglo Irish Bank in the immediate run-up to the trials of senior figures in Anglo Irish Bank, it could have a serious effect on the progress of those trials.”

Paul Coghlan (FG) suggested all members of the House were agreed on the inquiry.

“Everybody wants to get to the unvarnished truth and nothing must be excluded,’’ he said. “As we all agree, no one in these Houses would wish to prejudice cases that are in the pipeline.’’

He believed, he said, that it was only representatives of the two pillar banks who were present on the night of the bank guarantee. “No one wishes that anything be excluded and, of course, we all want to get at the full truth,’’ he added.