Cowen: Banking inquiry not a matter of priority

A BANKING inquiry is not a matter of priority for the Government according to the Taoiseach, Brian Cowen, who said the factors that led to problems in financial institutions will be examined “in due course”.

Mr Cowen was yesterday accused of “covering his own tracks” by refusing to set up such an inquiry in the near future, while the Government begins work on the National Assets Management Agency (NAMA) and tries to restructure the banking system.

As the opposition increased pressure for such an inquiry, Mr Cowen said the Government would give “careful consideration to what mechanism will be devised to see what lessons can be learned and should be learned” but “the priority at the moment is to continue solving the problem”.