Full tribunal would be too long and expensive, says Kenny
Fianna Fáil leader Micheál Martin insisted that any probe by the Oireachtas would not be able to hold people to account as it would be barred from making adverse findings.
Mr Martin said an independent judicial investigation was the only way to ensure a thorough, unbiased outcome was reached.
However, Mr Kenny said a tribunal would take too long and be too expensive.
When the Taoiseach hit out at the “axis of collusion” between Fianna Fáil and bankers, Mr Martin said the comments were proof that an Oireachtas investigation would be tainted by party political motivation.
Public Expenditure Minister Brendan Howlin said an Oireachtas probe could be launched in the autumn.
“I think we should spend the summer getting all the detail in place, getting the scoping done and all the regulations in place so we can embark on a proper inquiry early in the next Dáil term,” he said.
Mr Howlin said witnesses could be compelled to give evidence under oath at such an investigation.
Independent TD Shane Ross claimed the Oireachtas was not the best body to look into the banking collapse.
A government spokesperson said the banking inquiry would be “the creature of the Oireachtas, not the Government”.
It is still unclear who will carry out the probe as Oireachtas committees such as finance or public accounts must ask for permission to investigate from the Committee on Procedure and Privileges (CPP).
The CPP could decide to create a new committee to deal with the matter.
Oireachtas members who are believed to be biased on an issue cannot take part in a probe under new legislation which could also complicate the matter.
Mr Howlin said that expected prosecutions of individuals involved in the financial collapse would impact on any probe.
“Whatever inquiry you have, as soon as formal trials begin, then obviously that module, or that investigation will cease until the judicial process is completed,” he said.
Mr Kenny’s spokesperson said the Government wanted the inquiry to report back in a timely fashion, and pointed to the duration of the DIRT probe, which lasted four months, as a reference point. Any Oireachtas probe would have to be completed before the next general election.
Green Party leader Eamon Ryan, who was a member of cabinet when the bank guarantee decision was taken in Sept 2008, called for an immediate Oireachtas inquiry into the banking crisis, and said gardaí and the Director of Corporate Enforcement needed to report on what progress they have made in their inquiries into the bank.
