Fine Gael Kerry Senator and Government Chief Whip in the Seanad, Paul Coghlan, has welcomed the Oireachtas banking enquiry which is due to start work within months. It has been confirmed that a new Oireachtas committee will be established to preside over the inquiry.
“It is high time that the people who helped caused Ireland’s economic collapse are brought before a committee of the Irish Parliament to explain their actions. There are many questions that have been unanswered around the economic collapse. This is why I welcome the forthcoming banking enquiry.
“Government policy in the years before the economic collapse is one of the areas which I believe should be brought before the committee and assessed. There can be no doubt that the mismanagement of our economy at government level was a factor in the disaster that befell our country.
“The failure to adequately regulate the banking sector has had dire consequences and should also be considered for any banking inquiry. The banks need to be brought before the committee, along with the accountants and auditors to find out how and why the perilous financial state of the banking sector wasn’t identified sooner.
“The night of the bank guarantee is the darkest moment in recent Irish politics. I believe the Oireachtas Inquiry will help shed light on what occurred on that fateful night.“The Irish public have for over five years lived with the consequences of the actions and decisions taken around this time. I welcome the new Standing Orders as the next step towards Oireachtas Inquiries. I believe that this is the best system to uncover the truth about issues of public concern. I have called on members of the Seanad to give these Standing Orders our unanimous support.”