Decisions on state bailout exempt from banks probe

KEY Government decisions that saw billions of euro of taxpayers’ money used to bail out the banks will not form part of the banking inquiry.

Finance Minister Brian Lenihan rejected claims the bailout had been a “conspiracy” to help bankers and developers. But he similarly rejected suggestions the Government should open up its books to convince the public there had been no conspiracy.

The minister announced details of the two-stage inquiry yesterday, the bulk of which will be done by a commission behind closed doors, a decision that led to opposition claims of a “whitewash”.