Critics face banking probe exclusion

Politicians who have made strong comments about banks may be excluded from the long-awaited inquiry into the banking crisis.

Senior Government figures yesterday also warned that any banking crisis could not prejudice upcoming court cases amid claims that Anglo Irish Bank may be left out initially of the probe.

Taoiseach Enda Kenny said he did not think an international committee of external experts should lead the probe. He agreed with an earlier claim by Independent TD Shane Ross that there may be problems with some politicians participating.

“I agree with Deputy Ross that, where people might have been very strong in their comments, that it may not be possible for everybody to participate in this kind of inquiry. But there’s a process to deal with that.

“Do I think that the Oireachtas can put together a committee that will do this well? I believe so, very strongly, and I believe in our own capacity to carry out this inquiry without interfering with criminal trials which are a matter exclusively for the courts of the land.”

The Dáil yesterday passed an order, in effect setting in motion the establishment of the inquiry.

The Government have said that the probe will examine the role of bankers in charge at the time of the 2008 bank guarantee, the auditors who signed off on accounts for the banks. The inquiry will also look at the role of State institutions such as the Central Bank, the Financial Regulator, and the Department of Finance.

Earlier, Jobs Minister Richard Bruton warned that the inquiry could not interfere with any pending court cases into Anglo.

He said: “Obviously we cannot prejudice any cases that were taken. I think that’s the balance that has to be struck by anyone conducting an inquiry. The public have a right to see people held to account, to learn lessons from what went wrong, that’s the importance of this inquiry.”

Earlier, Mr Ross said that reports that the banking probe may go ahead without investigating Anglo were “frankly ridiculous”.

He suggested that an inquiry should go ahead, but that it should be run by independent outsiders, such as former US envoy to the North, George Mitchell.

Fianna Fáil jobs spokesman Dara Calleary said the Government would use its Dáil majority to “drive the inquiry in a political way”.

Meanwhile, the Labour-led Oireachtas finance committee will meet next week and agree details on submitting proposals to head up the long awaited banking inquiry.

Committee chairman Ciaran Lynch said members would meet in private next Wednesday and discuss how the group could apply to lead the probe.