Ross recommends banking inquiry

SEANAD REPORT:IF A "full-blooded" inquiry into banking activities was not to be conducted elsewhere in the Oireachtas, the Seanad should undertake its own investigation, Shane Ross (Ind) said.

The kind of inquiry proposed by the new governor of the Central Bank, Patrick Honohan, would not be an expensive legal witch-hunt. It would be based on the Dirt inquiry conducted by a Dáil committee in the 1990s. That had been the most successful inquiry of its kind ever held.

Other investigations being conducted into possible criminal activity in the banking sphere were being pursued behind closed doors. The purpose of the inquiry Mr Ross had in mind would be to let the public know what had been going on. “Those who are responsible . . . have walked away leaving, partially at least, a deficit of €20 billion in the nation and enriched themselves. Let’s see the whites of their eyes before us in the Oireachtas and let the people see it.”

Seanad leader Donie Cassidy said that as someone who had been an Oireachtas member when the Dirt inquiry had taken place, he thought the same kind of approach should be taken.

Paschal Donohoe (FG) said a well-conducted inquiry would be in the national interest and would lead to this country being better protected if another financial crisis were to threaten us again.

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A London court had issued a warrant for former Israeli foreign minister Tzipi Livni in connection with war crimes, said Mark Daly (FF). Ireland had been one of only five EU countries to support the UN resolution in relation to war crimes in Gaza. It was disturbing that a lengthy report had contained details of the shooting dead by an Israeli soldier of three girls, aged between nine and four, while holding a white flag.

David Norris (Ind) welcomed the fact that the courts were being employed nationally and internationally, to hold political leaders to account. It was also interesting that the British government had speedily distanced itself from this approach, ignoring the ethical and criminal responsibilities involved.

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Powers to regulate stag hunting should be devolved to local authorities, Joe O’Toole (Ind) said. He did not think there could be agreement nationally on such an issue.