Banking Inquiry

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Oireachtas banking inquiry findings do not bear out Taoiseach Enda Kenny’s claim of three years ago that an “axis of collusion” existed between Fianna Fáil and the banks. Photograph: Ruben Sprich/Reuters

Often when a political party experiences an unprecedented drubbing at an election, a veteran figure is asked to undertake a warts and all assessment o(...)

Jean Claude-Trichet: former ECB president remarked a “bomb” would go off in Dublin if a haircut was imposed on senior bondholders. Photograph: Eric Luke

The National Treasury Management Agency advised the Government in March 2011 that haircuts of €9.1 billion could have been imposed on senior bondhold(...)

Oireachtas banking inquiry chairman Ciarán Lynch (centre) with committee members on the publication of the final report at Leinster House yesterday. Photograph: Eric Luke

It started with a minority report, featuring Socialist TD Joe Higgins rather than Hollywood heart-throb Tom Cruise. And it concluded in the audio-vi(...)

Kevin Cardiff: “I told the Taoiseach, in a side conversation, that if we accepted their wording, ‘the banks would be laughing at us’, or words to that effect.”

Draft Central Bank documents prepared before AIB and Bank of Ireland joined the “guarantee night” talks pointed to a shorter, narrower scheme than pro(...)

Chairman Ciarán Lynch (centre) with members of the Committee of Inquiry into the Banking Crisis, on the publication of the final report, at Leinster House. Photograph: Eric Luke/The Irish Times

The refusal of the European Central Bank to allow the country to force losses on to bondholders left the Irish public facing an inappropriate share of(...)

The late Brian Lenihan and then finance minister: The inquiry also said a European Central Bank letter to Mr  Lenihan,  on November 19th, 2010, “threatened” the withdrawal of crucial support for Irish banks if the State did enter a bailout. “Jean-Claude Trichet’s letter caused the Irish government position to crystallise.”

The notion that Ireland might need a bailout was first raised in the month of the September 2008 bank guarantee and Dublin was in talks with troika bo(...)

The inquiry noted David Drumm’s failure to appear before the committee but it said that even if the former head of Anglo Irish Bank had agreed to appear, the Director of Public Prosecutions probably would have blocked it.

The Oireachtas banking inquiry focused particular criticism on the European Central Bank over its lack of co-operation with the joint committee. It s(...)

 Brian Cowen former taoiseach at the Dail for the banking inquiry .Photograph: Cyril Byrne / Irish Times

Government ministers were assured by the Central Bank and the financial regulator that all six lenders covered by bank guarantee were solvent on Septe(...)

The Anglo Irish Bank signage and lettering being removed from its former head office on St Stephen’s Green, Dublin. Photograph: Bryan O’Brien

Full coverage of the Oireachtas inquiry into the banking collapse and financial crisis is available at

Among the report’s key findings are: – The almost universal adoption of the ‘soft landing’ theory, without any substantial test or challenge, must be(...)

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