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Need for effective powers for Dáil enquiries – Adams

12 February, 2013 - by Gerry Adams

Sinn Féin President Gerry Adams TD has called on the government not to “hamstring any enquiries arising out of the Oireachtas (Inquiries, Privileges and Procedures) Bill”.

The Sinn Féin leader raised the issue in the Dáil today.

Teachta Adams said:

“The RTE report into Irish Nationwide exposed the extent to which the banking practices of that institution were out of control.

“The corrupt practices involving senior management, developers, speculators and others; inadequate regulation, and a bad decision by the Fianna Fáil government, saddled the taxpayer with a huge €5.4 billion debt plus interest.

“This is as much as the government’s Family Household Tax will raise over ten years or almost six times what the government is stripping from the health budget for this year.

“Last week the Fine Gael and Labour government compounded this by turning this bad banking debt into sovereign debt locking taxpayers into paying off it for the next 40 years.

“Almost five years after the Nationwide/Anglo debacle citizens have still not seen any of the reports carried out into the banking collapse; no public enquiry has been held and no one in the banks has been held accountable.

“The Oireachtas (Inquiries, Privileges and Procedures) Bill is supposed to provide a means by which the Dáil can investigate the banking crisis. However, there is now real concern that the government’s legislation will prohibit any scrutiny of actions by former Ministers and Taoisigh.

“There is a need to get to the truth about this bad bank as well as the deal Fianna Fáil struck with Michael Fingleton about his €1 million payoff.

“The Oireachtas (Inquiries, Privileges and Procedures) Bill needs to have the investigative powers to hold effective enquiries that can get to the truth and which can hold those involved to account. It also needs to be open and transparent.

“There also needs to be truth around the accountancy and auditing firms that signed off on Anglo and Irish Nationwide year on year– many of whom are still getting government contracts.”


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