Pressure grows to hold banking inquiry

Pressure is growing for an inquiry into the banking collapse amid outcry over revelations that executives at Anglo Irish Bank lied about the scale of the crisis at the bank at a critical time when the then government was deciding how to intervene.

Enda Kenny said he understood the anger and rage felt by the public at the bank’s behaviour as revealed on a leaked telephone recording, and vowed to pass legislation within weeks enabling the establishment of an Oireachtas inquiry.

Eamon Gilmore said he was “shocked” by the content of the conversation recorded in Sept 2008 and also stressed the Government’s commitment to holding formal hearings.