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18/01/2010
Opposition Maintain Pressure For Bank Inquiry
The main opposition party, Fine Gael, have upped their pressure on the Government for a public inquiry into the banking system crash today.
Fine Gael's Deputy Leader & Finance Spokesperson, Richard Bruton, rejected the Government's mooted proposals to hold a public banking inquiry saying that conducting a the inquest behind "closed doors" would damage the investigation.
Mr Bruton said the public had a right to see those involved in the banking crisis held accountable in public and that the effectiveness of such an inquiry would be damaged by holding it in private.
"The Dail must assert its duty to hold public policy and its execution up to scrutiny and this must be done in public.
"The general public have in many cases seen their livelihoods destroyed and taxpayers have been lumbered with debts that will beset them for years," the Fine Gael TD said.
He added: "They have a right to see those who landed them with these debts publicly explain what went wrong."
Mr Bruton went on to say that the essence of effective regulation was proper accountability and that accountability should have consequences. He said that the people involved were public people who have a duty to be accountable in public to the people whose livelihoods have been destroyed.
On Friday, the Daíl's second llargest opposition party, the Labour Party, published a Private Members Motion calling for a committee of Dail Eireann to conduct an open investigation into the banking crisis.
Labour Spokesperson on Finance, Joan Burton, said that there was now an unstoppable tide of opinion in favour of a full inquiry.
Ms Burton said: "The public is entitled to answers as to why our system failed so that we can ensure that the mistakes of the past are never repeated. In that sense, the establishment of a banking enquiry is as much about the future as it is about the past.
"Even the Government has now backed down in the face of the tide of support for an inquiry and dropped its earlier opposition, but I suspect that their tactics will now be to delay the holding of an inquiry for as long as possible."
(DW/BMcC)
Fine Gael's Deputy Leader & Finance Spokesperson, Richard Bruton, rejected the Government's mooted proposals to hold a public banking inquiry saying that conducting a the inquest behind "closed doors" would damage the investigation.
Mr Bruton said the public had a right to see those involved in the banking crisis held accountable in public and that the effectiveness of such an inquiry would be damaged by holding it in private.
"The Dail must assert its duty to hold public policy and its execution up to scrutiny and this must be done in public.
"The general public have in many cases seen their livelihoods destroyed and taxpayers have been lumbered with debts that will beset them for years," the Fine Gael TD said.
He added: "They have a right to see those who landed them with these debts publicly explain what went wrong."
Mr Bruton went on to say that the essence of effective regulation was proper accountability and that accountability should have consequences. He said that the people involved were public people who have a duty to be accountable in public to the people whose livelihoods have been destroyed.
On Friday, the Daíl's second llargest opposition party, the Labour Party, published a Private Members Motion calling for a committee of Dail Eireann to conduct an open investigation into the banking crisis.
Labour Spokesperson on Finance, Joan Burton, said that there was now an unstoppable tide of opinion in favour of a full inquiry.
Ms Burton said: "The public is entitled to answers as to why our system failed so that we can ensure that the mistakes of the past are never repeated. In that sense, the establishment of a banking enquiry is as much about the future as it is about the past.
"Even the Government has now backed down in the face of the tide of support for an inquiry and dropped its earlier opposition, but I suspect that their tactics will now be to delay the holding of an inquiry for as long as possible."
(DW/BMcC)
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