Cowen denies 'totally unfounded' Noonan claims

DEAGLÁN de BRÉADÚN

CLAIMS BY Fine Gael’s Michael Noonan that there was “foot-dragging” by the Government on the question of pursuing investigations in the banking sector have been described as “totally unfounded” by Taoiseach Brian Cowen.

Mr Cowen pointed to the fact that Minister for Enterprise Batt O’Keeffe had stated that at least 15 files relating to Anglo Irish Bank had been referred to the Garda by Director of Corporate Enforcement Paul Appleby.

“We have an independent prosecution authority and system in our country which is proceeding, and any suggestion by Deputy Noonan that it has other than our full and total support is totally unfounded. It’s a political charge that has no foundation at all,” Mr Cowen said.

On the issue of regulating the sector he said: “We have seen a lot of changes taking place since the [new] regulator has been put in place. We have indeed seen the integration of the Central Bank and the regulatory authority.”

In relation to the regulatory aspects of a loan from Anglo Irish Bank to Seán Quinn, Mr Cowen was asked if he had discussed any of the these issues with Seán FitzPatrick and David Drumm of Anglo when he met them in April 2008, as minister for finance.

“No, it was a social occasion,”he replied.

Tangled tale of how mysterious machinations of Quinn and Anglo helped seal each other’s fates: Business This Week, page 5

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