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Government seeking to cover up IBRC scandal - Adams

28 April, 2015 - by Gerry Adams TD


Sinn Féin Leader Gerry Adams TD has accused Taoiseach Enda Kenny of giving contradictory accounts to the Dáil as to what he knew and when about the IBRC scandal.

Teachta Adams said:

“The Taoiseach told the Dáil last week that he knew nothing about the reports of deep concerns at the Department of Finance about the Siteserv sale and other IBRC deals.

“However today he told the Dáil that he was in fact kept informed about these issues by the Minister for Finance. That begs the obvious question as to when he was told. The Taoiseach needs to explain this.”

Mr Adams had earlier raised the issue in the Dáil directly with Mr Kenny.

He said:

“Taoiseach, you appear to be insistent on proceeding with a review, which nobody has any faith in, into the IBRC scandal. This review is merely an extension of the Government’s cover up of this scandal to date.

“When Pearse Doherty raised questions in 2012 around the handling of the IBRC sale of the Siteserv, he was stonewalled by Minister Noonan. At the same time, officials from the Department of Finance had brought their serious concerns to the Minister’s attention.

“Why did Minister Noonan not reflect this in his written answers to Pearse Doherty? That was three years ago. Your Government has been sitting on this issue for all this time.

“Taoiseach, the developing scandal surrounding IBRC is another indication of the continuing and toxic relationship between big business and political parties such as Fine Gael and Fianna Fáil.

 “This is having a corrosive effect on politics and the faith of citizens in the political system. Citizens see the stark contrast between your attitude to the banks and to political and business insiders –the Golden Circle - compared to your treatment of ordinary citizens.

 “Citizens are appalled at the massive write-downs that IBRC gave to private companies. You have no problem with these write downs, but you ensure there are no write downs for mortgage holders by giving a veto to the banks.

 “You told the Dáil last week that you knew nothing about the reports of how the IBRC did its business, or of Department of Finance concerns about this.

“Taoiseach, when did Minister Noonan inform you about the deep concerns at the Department of Finance about Siteserv, the sale and other IBRC deals?”

The Sinn Fein Leader said Mr. Kennywas trying to give the impression of inquiring into these matters, but he must know that he is not convincing anyone. The fact is that he is blocking a genuine, independent investigation.

“Taoiseach, we already know that civil servants raised repeated and very serious concerns about the sale of Siteserv and other deals. These transactions must have cost hundreds of millions in losses to the taxpayer and hundreds of millions in gains to the insiders.

“While all this was going on, a Siteserv subsidiary was granted the lucrative contract to install water meters. Was that on the advice of the consultants, who Phil Hogan gave €85 million of taxpayers money to?

“We know that a certain privileged elite became very wealthy as a result of the financial crisis in this State. It is now clear that your Government has facilitated this. 

“Taoiseach, the only way to find out exactly what happened is to establish a Commission of Investigation. Isn’t that why you won’t establish one?” 

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