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Banking Inquiry Report leaks indicate nothing new - Tóibín

22 January, 2016

Sinn Féin junior spokesperson on Finance, Peadar Tóibín TD, has criticised the lack of any real findings from leaked reports of the Banking Inquiry. The leaks highlight failures from the Central Bank and the Regulator in preventing the banking crisis, but show little evidence of bringing the power players and politicians who were authors of the crisis to light.

Deputy Tóibín said:

“From what has been leaked so far it appears that this inquiry report is not going to even attempt to tell us something new. According to RTÉ, the report is going to come down hard on the Central Bank and the Regulator because of failures due to their respective offices. This is obvious. It is hardly news that the Regulator and Central Bank failed in their mandate to protect the stability of the Irish financial system.

“However it is very telling that there does not appear to be anything regarding politics, and the role of government in the bank crisis in what has appeared in the leaks so far. This is all about relationships, elites and golden circles and has been since day one. This is about the way things get done in this country.

“So far the report is focusing on those who implement the rules such as the banks, but not those who write them – the government. Will the government’s role be covered by this report – we’ll have to wait and see.  

“Examining relationships at the top of society and how privilege and position is written through the world of economics, finance, property and politics is of primary importance. It is these relationships that were instrumental in bringing about the crisis.  It is my hope that these topics that will be covered by the report on Wednesday and not just a tired re-hash of what we already know.”

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