Pressure to probe Media Lab collapse

PRESSURE is mounting on the Government to hold an investigation into the collapse of the Media Lab Europe (MLE) research venture.

The Labour Party said the collapse of Media Lab, which has cost taxpayers some €35 million, should be probed by the Comptroller & Auditor General and the powerful Public Accounts Committee.

Media Lab was set up by the Government in a joint venture with the prestigious Massachusetts Institute of Technology five years ago as a research facility. Over the years it received some €35m of public money and raised €12m from private investors. However, it continued to swallow cash and donations dried up. Last moth it was placed into voluntary liquidation after a rescue plan requiring more cash was rejected by the Government.