The Irish Independent’s Anglo tapes are ‘proof positive’ that a full banking inquiry is needed. Local TD and Minister, Alan Kelly, believes a “short and sharp” inquiry is necessary for the people of Ireland.
“We urgently need an inquiry to shine a light on the circumstances around the collapse of the bank and the introduction of the bank guarantee in September 2008,” said Alan Kelly.
The information that has come into the public domain may be just the tip of the iceberg, and any other information from that period, whether it exists in hard copy or stored electronically, should be made available in full to such an inquiry,”
“The Irish people deserve a full and thorough explanation as to the circumstances that led to the bank guarantee being put in place, given the fact that they have been paying for it hand over fist, ever since.
“Any such inquiry should be very specific in its terms of reference, should operate within a very specific time period and should not be left open-ended. We need a sharp-short process.
“If another referendum is necessary in order to give such an inquiry teeth, then we should not rule that option out. The public may feel differently about the matter now.
“I remember being the Labour party’s finance spokesperson that night in September 2008 in the Seanad. It is with deep regret that more parties did not follow Labour’s example that night and vote down the bank guarantee. We are still paying the bill for the arrogance and greed shown by Anglo,” concluded Alan Kelly.